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Cam253

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should I drop my secured credit card a year before trying to buy a house credit score 678
Ill be finishing my associated degree this summer. Today Oct. 2014 by next fall I should be receiving an insurance settlement 20K or more to put on a down payment for a house. Ive had this secured credit card ($2000) for two years my credit has been helped a lot. I do have an unsecured credit card now. Would dropping the secured card hurt my credit longer than six months?

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Chances are it will hurt your score (longer than 6 months probably).

Two major reasons why:

1) Is it one of the olderest satisfactory accts you have - this will change the amount of credit history

2) it will take away 2000 of available credit, lowering your amount of available credit.

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