Credit scores-what helps, what hurts?
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|Thu, 02-28-2013 - 2:23pm|
Wondering what helps and what hurts credit scores?
I'm planning to close the myriad of ING accounts that I've had for years, and continue to use my primary long-standing bank account. I've also got a new local credit union account.
DH has a check account that has been open @ 14 months that I was made joint on last summer. He also has a couple of other long term accounts with our local credit union, and the new business account I've just opened replaces the check account that I'm joint on, so I was thinking of closing this account. We don't need it and won't be using it any longer, and it costs to keep it open. But would closing the account damage our credit scores more than saving the monthly fee is worth? A couple of his other long term accounts are joint with his ex, and have to be closed in order to take her off the account.
I don't want to damage our credit scores by closing a bunch of accounts, but our current situation is such that we have more accounts open than what we need, and I don't want to have to monitor them or even think about them.
I know the current debt:credit ratio is probably enough of a problem that closing bank accounts is a non-issue, but thought I would ask.