AquaCityBoy
Veteran
How do I cancel a credit card without it hurting my score? 
Lets tlk about credit.
- Thread starter KOOL-AID
- Start date
HookersandIceCream
#TeamOrange
How do I cancel a credit card without it hurting my score?
Why do want to close it?
AquaCityBoy
Veteran
I never use it.
HookersandIceCream
#TeamOrange
What's the credit limit and how long have you had it
No need to close accounts. You are lowering the account of credit you have.
My experian credit score is sitting at 748 right now. What does that come out to in FICO brehs?
I don't know if this still works anymore but you used to be able to add yourself as a authorized user to somebodys credit card. So basically their open tradelines reported to you as well. So long as someone was paying on time it looked like you were too. But just like every other lick I'm sure it got burnt up.
I got that good credit, pretty sure papi would front me some work if i needed it . 
-DMP-
-DMP-
credit karma is an excellent resource. they dont just give an estimate, they pull your full report from equifax and transunion. They use VantageScore which is an aggregate of the two. Its the latest metrix for consumer reporting (the one most lenders use).
they have great articles about disputing incorrect items, recommendations for credit repair, loans and credit cards. (tailored for your creditworthiness)
they also update automatically once a week.
and this is all for free.
You can still be added as an authorized user to a lot of credit credit cards (I just added my wife to my AMEX).
I also added my newborn son to one of my credit union credit cards b/c the AGE of your individual credit card accounts and LENGTH of your credit history are also major factors in your credit score. So when most cats are just starting their credit history at 18 yrs old my son will have an 18 yr head start.
The important thing to keep in mind is that the credit card company has to report the credit history to the big 3 credit reporting agencies for the proposed authorized user to get the benefit.
He'll never know about the card until he goes to college though!
Watch out for those kind of companies. Most of the time they are a rip off and anything they can do for you, you can do for yourself for free.
Anything above a 720 is gravy.
You need to know if that is Experian's proprietary score (in house and likely meaningless) or if it's a FICO score. I heard commercials saying that Experian provides FICO scores now. You can get FICO scores at www.myfico.com
Don't close the card unless you have an annual fee. If you have an annual fee see if the company can change the card to one without an annual fee. Having the same credit cards for a long time is seen as a positive. You also have to consider credit utilization. Utilization is the amount of total credit you have vs. how much you actual owe. If you close accounts you are reducing the amount of total credit and reducing your utilization. Try to keep your utilization below 30% and under 10% is ideal.How do I cancel a credit card without it hurting my score?
SwagmundFreud
Superstar
My credit score is a little over 800 
This is due to being a cosigner on car financing. I don't recommend anyone co signing anything but is sure as hell got my credit up
This is due to being a cosigner on car financing. I don't recommend anyone co signing anything but is sure as hell got my credit up