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If you close out some of your credit card accounts and continue to pay them off will that increase your credit score?
Wiki User
∙ 8y ago
You should not close a credit card if you are still paying on it. It will bring your credit score down. Close it when you are done paying. I know this because my mom owns her own credit repair/management business and she tells me what to do with my credit cards.
Wiki User
∙ 8y ago
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Can you close your credit card account and continue to make payments?
No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments
You have too many credit cardsshould you close them to increase your fico score?
Absolutely no! Closing accounts will affect your credit score greatly. There is a lot involved with your question so for more information, you may want to look at a great credit book. I recommend Phil Turner book called: Credit bible.
How can you increase your credit score quickly?
Pay your credit cards down at least 50% off the credit limit. Example: Discover card with a credit limit of $1,000.00 and you maxed this out. Pay $500.00 on this account = 50% of the credit limit. This will increase your score within the 30 days of this transaction. Make sure that you do not pay off an account in full and close it. This will hurt your more then help you. Settle and collection accounts that you might have.
What is the fastest way to improve the credit score?
pay your bills on time, don't apply for new credit, don't close any of your current accounts
How can you increase credit score over 640?
1. Pay your bills on time. 2. Keep your balance to limit ration at 20% or less on your debt. 3. Have a good mix of credit (installment and revolving). 4. Do not close old accounts. 5. Do not apply for credit more than once every 6 months.
If you close open accounts will your credit score go up?
NO! THE OPPOSITE HAPPENS, YOUR CREDIT SCORE WILL LOWER. KEEP YOU ACCOUNTS OPEN EVEN IF YOU HAVE A ZERO BALANCE. NEVER, CLOSE AN ACCOUNT IF YOU CAN AVIOD THIS.
Can a bank close your credit card if you a behind in your mortgage but up to date on your credit card?
No, they are completely different accounts.
If you close a checking account wll it hurt your credit score?
Checking accounts are not normally reflected on a credit report.
Can you close your credit card account and continue to make payments?
No, what usaully takes place is that the credit card company freeze your credit card account and you continue to make payments
You have too many credit cardsshould you close them to increase your fico score?
Absolutely no! Closing accounts will affect your credit score greatly. There is a lot involved with your question so for more information, you may want to look at a great credit book. I recommend Phil Turner book called: Credit bible.
Should I close all old credit card accounts that have 0 balances?
yea if you dont want bad credit
How do you close a credit card after ones death I want to pay off the cards and close the accounts. What steps do I take?
Call the company, it is likely that they'll ask for a copy of the death certificate to close the accounts.
How can you increase your credit score quickly?
Pay your credit cards down at least 50% off the credit limit. Example: Discover card with a credit limit of $1,000.00 and you maxed this out. Pay $500.00 on this account = 50% of the credit limit. This will increase your score within the 30 days of this transaction. Make sure that you do not pay off an account in full and close it. This will hurt your more then help you. Settle and collection accounts that you might have.
What is the fastest way to improve the credit score?
pay your bills on time, don't apply for new credit, don't close any of your current accounts
How can you increase credit score over 640?
1. Pay your bills on time. 2. Keep your balance to limit ration at 20% or less on your debt. 3. Have a good mix of credit (installment and revolving). 4. Do not close old accounts. 5. Do not apply for credit more than once every 6 months.
Is a compound entry in the general journal is made to close expense accounts?
A compound entry in a general journal is any entry that has more than one debit or credit value. A compound entry is used to close the expense accounts because you will need to credit all of the expense accounts, then debit either the Income Summary, or the Capital itself.
Can credit card companies close your account and continue to charge interest on the balance?
Sure can, a dirty deal.
