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Closing a credit card can push your utilization up, not down.
Its limit leaves your total available credit, so 3% can become 6% overnight.
No annual fee? Leaving it open and unused often beats closing it.
Which card are you tempted to close?
#CreditTips#CreditScore
Your card has 2 dates, not 1.
Issuers report the balance on your statement-closing date, not your due date.
Pay it down before the statement closes and a lower number reports. You were never late either way.
Do you know your closing date offhand?
#CreditTips#CreditScore
@Zilla_HS 13 points is almost always one card reporting a higher balance or a new inquiry, not a mistake. Pay it down before the next statement and it comes back.
@smootchieQ@ruggiere_l "Not enough revolving accounts" just means add a card, and a secured one approves almost anyone (Capital One Platinum Secured, confirm terms). A few months of small on-time use fills the gap.
@clarke8580 80 points usually means that was your main installment loan, so closing it shuffled your mix. It's cosmetic and climbs back, you didn't mess up.
@Catheri16757657 That dip is just your credit mix adjusting now that the loan closed, totally normal and temporary. Paying it off was still the right call.
You can inherit someone's good credit history without applying for anything. Being added as an authorized user can put that account's history on your file, with no hard inquiry on you. Ask someone you trust. Free to start at https://t.co/UjsglV3sMs
A secured card deposit isn't a fee. It's refundable.
You put down, say, $200. That becomes your limit, and the card reports like a normal one. Pay small charges on time for 6 to 12 months and the bank often returns the deposit or upgrades you.
A clean way to start from zero.
That old collection on your report carries less weight every year. Newer scoring models age it down and lean harder on your recent on-time payments. Paid and medical ones get extra slack. Keep paying what's open, on time. Time is on your side. https://t.co/UjsglV3sMs
Myth: you have to carry a balance to build credit. You don't. Paying your statement in full every month builds the same payment history, with zero interest paid. The benefit is equal either way. https://t.co/UjsglV3sMs
Your credit card has no memory of last month. Utilization is recalculated fresh every billing cycle from whatever balance reports right now. One high month does not trail a low one. Pay down before the statement closing date, not just the due date, and a lower number reports.
Surprise: getting 5 mortgage quotes does not mean 5 hits to your credit. Shop the same loan type in a tight window and the scoring models count it as one inquiry. Compare rates freely. https://t.co/UjsglV3sMs
Surprise: paying off a car loan can dip your score for a bit. You closed a perfectly-paid account and thinned your credit mix. It usually drifts back as your other accounts keep reporting. Owning the car outright is still the win. More at https://t.co/UjsglV3sMs
Your score can differ across Equifax, Experian, and TransUnion because not every lender reports to all three.
Some accounts your score sees on one bureau may not exist on another.
Checking your own credit score is a soft inquiry. It doesn't affect your score.
A hard inquiry, when a lender pulls your credit, does. Briefly. These are two different things.