caliman10

a closed account with a balance, no matter how small, makes other lenders nervous these days - they are notified when changes report (and didn't waste time with the CLDs). I definitely would not want a closed account with a balance to suddenly pop up on the personal CR. If you can't avoid it, you can't avoid it - but if you can get it paid off or even BTd to a personal card, that would be better IMHO. I understand how new accounts can make a lender weary, but if the closed card reports a high limit of 10,000 with a current balance of a 1,000, would that not be a good thing? Or is it not worth it showing on your report as a closed card?

How could of HDMC killed you if it only had a 1% balance? did it not report a credit limit? I guess I dont understand how a account could hurt if it had only 1% balance. closed or not closed?

Does anyone know anyone else that currently offers a secured credit card of 15,000 to 25,0000. I found a credit union in New Orleans area, but nothing on a national level yet.

I was considering doing this. I just dont know all the details. I was hoping the forum could throw the idea around a little. Here is what I am pondering. Please chime in with your thoughts and experiences -It would be good to help with utilization, and you would not be conerned with the creditor cutting your line. -Do any Banks offer secured cards with lines that range in the 10,000 to 25,000 range? -Does it actually say on the Credit Report "Secured Credit Card?" Just wondering if that could cause red flags -Do secure cards lines even count towards utilization? -What are some other positives or negatives to doing this?

@Direct Your logic makes a lot of sense to me. This is why I was considering paying down the balance and keeping the tradeline alive. It would be my 3rd highest tradeline. Question for you and every body else though. Do banks consider closed but paying off tradelines when determining what kind of line they should give you???

No. Not a signature card. it was a bankrupt bank business card. Currently my credit utilization on my credit report is 15%. I was thinking about paying it down to 5% of balance and letting it help me with utilization for the next couple years It would also give me my 3rd largest cl of 10,000. Do you think that would be a positive? I have 3 cards under 5,000. 2 Cards with cl of 15,000 I thought it might look good to have another high limit card, even though it is closed... The only negative I can think of is it would be a "new" account? Thoughts?

Hello, I really need help on this one. I have a hidden trade line. It is a old first equity card that has been CLOSED by the issuer. I currenty owe about 8000 and when it was closed my limit was 10000. They sent me a letter stating I could pay it off by december and it would never report or i could not and it will. 1. My question is when it reports, do you think it will report as -Other -Installment -Revolving 2. I can pay it off and it will never report. Which could be good, or I could pay it down to 1,500 snd pay it off slow and maybe it would help my utilization? Thoughts? What do you guys think would be my best move?

Does anyone know if a closed CC by bank or Self that has a balance will continue to effect credit utilization?

the credit card is a business card, so it does not effect my personal utilization. At this time it is not benefical to reduce the balance. I am just trying to figure out if it is better to ask for a CLI for my chase and Bofa accounts or apply for another cc they issue. AGAIN: I understand it would be better to just try another bank, but that is not the question. Do you guys think GENERALY is is less risky to ask for an increase with the bank or apply for a different CC they issue?

scenario when dealing with the same bank: Owe bank 15,000 on 17,000 line. Perfect history with them and other creditors. Is it less risky to ask for a cl increase or apply for a different credit card that they underright? Also: I realize that it is better just to apply for a different bank, but that is not the scenario I am wondering about. Thanks for any help.

personal

Hello, I really need help on this one. I have a hidden trade line. It is a old first equity card that has been CLOSED by the issuer. I currenty owe about 8000 and when it was closed my limit was 10000. They sent me a letter stating I could pay it off by december and it would never report or i could not and it will. 1. My question is when it reports, do you think it will report as -Other -Installment -Revolving 2. I can pay it off and it will never report. Which could be good, or I could pay it down to 1,500 snd pay it off slow and maybe it would help my utilization? Thoughts? What do you guys think would be my best move?

i understand, but who has seen *bumps happen on their credit report while their credit report has been frozen?

Are you still able to get *b when you have frozen reports? Meaning are you able to leave softs when you have frozen profile?

Hi, I was approved for a aa citi card. It was only for a 1000 bucks. I called in and the woman said this was a preliminary line and I could call in once I recieved the card. Has anyone else had this experience?? Help please!