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I am trying to raise my score so I can refinance my house. I inadvertently signed up for a new line of credit and it dropped my score 6 points today. Should I just leave it alone or close the account? I don't need it or want it, I just want what is best for my score. 

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3 hours ago, MeatTruck said:

I am trying to raise my score so I can refinance my house. I inadvertently signed up for a new line of credit and it dropped my score 6 points today. Should I just leave it alone or close the account? I don't need it or want it, I just want what is best for my score. 

 

Closing the account won't undo the score hit.  Fortunately the "new account" score hit will decrease as time passes. 

 

It goes without saying that it's best to resist impulse decisions when it comes to credit; doubly so in advance of planned mortgage activity.  "Live and learn" ;)

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6 points on which score range?  The only one that matters for mortgage approval and pricing is your middle mortgage FICO score.

 

A six-point FICO score change can have several causes, and is probably the combined result of multiple credit report changes.

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