Annualcreditreport Evansville

The result support that the age of your credit lines is an important factor is credit scores.

Take a look: http://blog.creditkarma.com/credit-scores/relationship-between-age-and-credit-scores/ Great post! Like you, I too discovered the hard way that closing credit card accounts will not help my credit score.

It seemed logical that closing an account I dont use would be the responsible thing to annualcreditreport Evansville do, but not so, as far as the credit score algorithms would have it. Another reason that closing cards can be a bad idea is that annualcreditreport Evansville youre lowering the amount of credit available to you (total of your credit limits) and depending on the amount of debt you continue to carry, this can look like youre overextending yourself. free credit report federal It can be a bit confusing, but it has to do the amounts owed portion of your score, which accounts for roughly 30%. I just wrote a blog entry about this annualcreditreport Evansville if youre looking for more info: http://tinyurl.com/4p6slg Hey Ryan I cant second this enough. The only thing that she is consistently dinged on is length of credit history and she has 5 years of it. Considering she is 25, thats not that short a history, but short enough to where closing any of her long running accounts could absolutely hurt her credit badly. get free credit report You might need to check not only your credit score, but your credit report as well. I applied for a credit card once, never got it ( someone might have checked my mail for me, if annualcreditreport Evansville you know what I am saying), then called annualcreditreport Evansville the company and thought I had cancelled it. I checked my credit report one year later and I did see the credit card. I recently had one of my longtime cards closed by the store (Sears) because annualcreditreport Evansville of lack of use, I hadnt used it in over 10 years. So this is going to hurt a score that isnt great right now to begin with because it is a long account as well as lowering the available annualcreditreport Evansville credit. annual credit reports

Lowering your available credit can be a good thing if you have too much credit available, but it can also be bad if you have outstanding debt because it raises your utilization rate.