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Originally Posted by BMW F22
It will drop a few points but will even out in a few months. It's only important to not cancel a cars you have had for a long time because that card has a much longer credit history about you. I wouldn't worry about it.
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Quote:
Originally Posted by 954Stealth
Recently opened as well as decreasing the average age of your open accounts will lower your score, plus the inquiry but it will be minimal
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Thanks!
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Originally Posted by MrPrena
As both stated, impact would be minimal.
Maybe pay it off and have zero balance? (If there is no fees or anything).
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I don't think there are any fees, the balance is $0 because i returned the chain.
Quote:
Originally Posted by CANGRKE70
You got a hit on your score when you applied. If this is your first form of credit you have a limited credit history as you don't have anything reporting to bureau >24 months. Pay the card off, keep it open and that will help you establish credit with low utilization. I'd recommend applying for a personal credit card for a small amount to further report to the bureaus. 825 is a good score but with a LHC lenders have a hard time lending larger amounts. That's why you need a minimum 2 products not including telecoms with a 2 year history. I actually manage a credit card center so let me know if you have any further questions.
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Sure, i'll PM if i need more info. Thanks.
Quote:
Originally Posted by ASAP
what kind of gold chain?
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It was a 10k 24" chain
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Originally Posted by NemesisX
(1) You should've gone with a mainstream cash back credit card instead of a "store" credit card. Store cards have among the worst rewards deals.
(2)TXSTYLE can attest to this but the Citi double cash back rewards cards is among the best on the market right now. You get a flat 2% cash back on everything. It's literally free money.
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(1) That's exactly what i thought of but it was too late after i had already applied.
(2) Yea, i've gotten plenty of info from them in the previous threads about CC's.