I did not say that I wouldn't pay off balances, moderator. I said I WOULDN'T PAY FOR CARDS that are a rip-off, so I closed them. I have no outstanding balances on any card. Read more carefully.
gene1940x's reply was:
Thank you all for comments. I think this whole credit score thing is a sham, frankly. I refuse to pay for cards that are ripping me off and if that lowers my score so be it. I'm really amazed at how many errors are showing up on my score on this site. They have the wrong number of credit cards, the wrong ages of them, and the wrong number of hard inquiries for the past year. I don't have the time or interest in trying to correct any of this.
I don't understand why having closed accounts with no balance would or should affect one's score. I closed accounts recently that were charging me for not using them or had raised interest to ridiculous percentages. I would think this would show prudence, not irresponsibility.
gene1940x's response was:
I had a Chase card (Amazon) and a WAMU card that got sucked up by Chase when WAMU went tits up. After two (2) interest rate increases in three (3) months I cancelled both and got a card from a credit union. Unfortunately closing those Chase accounts cost me 60 points on my credit score (why?). Worth it! But I dropped from the 800s to the high seven hundreds. Today I got another letter from Chase...even through I'm not a customer. More changes. Go figure.