credit score

[noturbizniss]

It will just show that the issuer closed the card. As long as the account was positive, it has no negative impact at all.

Remember that accounos get shut down all the time for inactivity, so there is no way for another creditor to draw a conclusion about a positive account with that notation.

Many thanks. So ill leave it open and make as much ms as i can.

[yitrap]

It will just show that the issuer closed the card. As long as the account was positive, it has no negative impact at all.

Remember that accounts get shut down all the time for inactivity, so there is no way for another creditor to draw a conclusion about a positive account with that notation.

So regarding F/R from amex, the only advantage to close the account yourself is that you don't get hit with another F/R when you reapply?

[newdealseeker]

Many thanks. So ill leave it open and make as much ms as i can.

Confused. Are you talking about an open account, or one that was shut by the bank?

[newdealseeker]

So regarding F/R from amex, the only advantage to close the account yourself is that you don't get hit with another F/R when you reapply?

You do get hit with another F/R when you reapply.
In my experience, and with others too, you can't get approved unless you pass an F/R. Unless maybe if you wait at least a year.

[yitrap]

You do get hit with another F/R when you reapply.
In my experience, and with others too, you can't get approved unless you pass an F/R. Unless maybe if you wait at least a year.

Even when closing the account yourself? Reports show otherwise, besides that's not my question.
Is there an advantage to closing the cards yourself other then possibly avoiding another F/R?

[newdealseeker]

Even when closing the account yourself? Reports show otherwise, besides that's not my question.
Is there an advantage to closing the cards yourself other then possibly avoiding another F/R?

That was my experience, and also others I know. I was told that you can wait a year and possibly avoid that. Personally I only waited until I felt I could pass.
As far as your question I'm wondering the same. Usually you have multiple accounts that need to be closed at F/R. Wouldn't it hurt to have so many closed cards even if positive? Why would you risk that? I personally closed ALL my accounts immediately after realizing I won't pass. And on my report I have several accounts "closed by consumer."

[yochiek93]

You do get hit with another F/R when you reapply.
In my experience, and with others too, you can't get approved unless you pass an F/R. Unless maybe if you wait at least a year.

-1 there are plenty of reports getting approved without another fr after 6 months

[Mendelssohn]

Even when closing the account yourself? Reports show otherwise, besides that's not my question.
Is there an advantage to closing the cards yourself other then possibly avoiding another F/R?

I know plenty of cases where people have gotten hit with an FR after reapplying, whether they closed the cards themselves or not.  YMMV

At any rate, having a "closed by consumer" notation on your credit report doesn't really gain you anything from the credit perspective.  The additional questions have to do with an Amex FR, not credit.

[newdealseeker]

-1 there are plenty of reports getting approved without another fr after 6 months

Could be it's the 6 months. I was told it's a year and didn't want to wait that long because I didn't want to miss out on SBS...
So for me it was only 5 months. My app was on hold until I submitted 4506-T. B"H I passed and was approved after a month...

[newdealseeker]

I know plenty of cases where people have gotten hit with an FR after reapplying, whether they closed the cards themselves or not.  YMMV

At any rate, having a "closed by consumer" notation on your credit report doesn't really gain you anything from the credit perspective.  The additional questions have to do with an Amex FR, not credit.

Really? No benefit at all?

[yochiek93]

Could be it's the 6 months. I was told it's a year

Who told you it's a year?

[Mendelssohn]

Really? No benefit at all?

Read my earlier explanation. I'm not going to repeat myself.

[newdealseeker]

Who told you it's a year?

Was told by one of the people who advertise credit card offer links. And by someone in my family who searched on a forum for the answer, not sure if it was DDF or other.

[noturbizniss]

Confused. Are you talking about an open account, or one that was shut by the bank?

Bank is claiming nsf on a check I deposited (even though it cleared and source bank did not report nsf to them)  and is going to shut my checking. I'm fighting it, got letter from source bank saying funds were there, but regardless my concern is if they continue to be mammzerim and shut checking then they might shut cc as well.

[newdealseeker]

Is there any benefit in following the reports and scores on Credit Karma? Specifically for before a mortgage.

[ya]

Is there any benefit in following the reports and scores on Credit Karma? Specifically for before a mortgage.

Scores - No
I also find my inaccuracies with ck reports

[Mendelssohn]

Is there any benefit in following the reports and scores on Credit Karma? Specifically for before a mortgage.

The reports aren't complete or accurate and the scores aren't FICOs.

I guess if you were making sure nothing negative shows up on EQ and TU that would be fine, but what about EX?

[Zalc]

The reports aren't complete or accurate and the scores aren't FICOs.

I guess if you were making sure nothing negative shows up on EQ and TU that would be fine, but what about EX?

You can get EX info from credit.com, no?

[ya]

You can get EX info from credit.com, no?

You can get all 3 reports and Fico 8 for $1 https://www.creditchecktotal.com

[newdealseeker]

You can get EX info from credit.com, no?

Is that site better than Credit Karma? Also totally free?