110 People Helped
Member Since: May 2009
I so agree,why should you be penalized for closing your accounts. I beleive if you close accounts they should give you points, not decrease your score. Believe this or not:
I had 4 active accounts that I paid off, one at a time. Once I paid it off, I closed the account. To my surprise my credit score went higher. It maybe that I didn't close them all at once (it took me 1 1/2 yrs). I personally just feel better knowing the account is closed. If I get a decrease in my score so be it, am sure that it will increase over time. It's funny how the credit system works.
I have 2 more accts that am going to pay in full and close this year also. Oh well, let the chips fall where they may. Good luck to all!
PURPLEMAXIMA's reply was:
Chase doesn't care about valuable customers. Today I went to my credit union (at 7.89% interest) since Chase raised my APR TO 20.99% for being a EXCELLENT CUSTOMER, and I'm so glad to say, my credit union will be paying Chase in full within 48 hrs.. If they are going to lower your credit limit, just close your account. To my understanding (reading blogs on credit),you will still get a 'DING' against your credit if a they lower your credit limit.
So I say,PAY IF OFF AND CLOSE IT!!!!!! Chase doesn't deserve a EXCELLENT CUSTOMER as yourself.
I say, CLOSE YOUR ACCOUNT AND FORGET CHASE. Banks doesn't listen to LOYAL customers, it's all about PROFIT. I have talked with Chase until am blue/pink in the face, they could care less..
CHASE only cares about MONEY, not GOOD CUSTOMERS! :(
If you have EXCELLENT CREDIT, do nothing!!! You only have 2 cards that you never use that is so AWESOME. This is what am currently working on, getting my balances down to improve my credit score. I started in Jan paying down my balances and I have really stuck to my budget, no more eating out, malls, ebay, etc, etc. I have GOOD credit, but I'm shooting for EXCELLENT just like you :).
Wish me luck. You are good to go :)!
I agree with you, close that sucker down and pay it off, that's what I did. It dropped my score by -7 pts, but am still at 768. The interest like you said will eat you alive and it will be forever and a day paying it off.
I'm on your side. CLOSE IT DOWN, PAY IT OFF AND FORGET ABOUT IT! LIFE IS STILL GOOD
-7 POINTS :)
I pulled my full credit report, and the 5 inquires that were added are over 2 years old. The last inquiry of the 5 was added back in 2011, so how does that work? Am still going to start an investigation wiht TransUnion, and hopefully they will take off these old inquiries. Trying to have GOOD credit stinks, seems like the credit agencies tries to keep the hard working people back. Just venting, am a little upset because I lost so many points.
PURPLEMAXIMA's response was:
This is not right by any accounts. Will credit reporting agencies fix this, or do we have to wait 2 years for us to get our points back? Am not happy with this at all, because in a few months am planning on getting a better car. Now I lost 23 points which I need for decent financing.
My credit score lost 23 pts on this. How can this be fixed? I haven't requested any credit, so do I have to wait 2 years to get my 23 pts back? Thank you