closed accounts
Date: Mon, 06/18/2012 - 18:32
how long will it take for a low credit score to change when it's affected by a closing of a credit card, a month? year? i had made a loan to pay off a high interest card, without the intention of closing it, but the bank did closed it. 'am trying to build a good credit history coz we're planning to buy a house in the near future, but for now i have to do something with those credit cards.
It???s quite impossible to say how long it will take to imp
It???s quite impossible to say how long it will take to improve your credit score. Contact with the credit card company and discuss with them about this issue.
Closing a line of credit will affect your credit usage ratio ind
Closing a line of credit will affect your credit usage ratio indirectly and that is why its recommended that you do everything to stop credit accounts from being shut down. There is no telling when your credit score will improve as there are a lot of dynamics involved. The closed account is going to take 7 years to get off your report. What you can instead do is open new lines of credit, maybe a secured credit card, and use it to rebuild your score.