What happens to the credit score/history from the 3 bureaus?
If i will let my credit card expire and then decide not to renew it, will it have a negative impact in my credit history/score? is that also the same with requesting for an early termination (closing) of the credit card?
You can’t let your credit card expire, the issuer will automatically send you a new card before the old one expires. Unless you or they cancel the account, it never actually expires. If you close the account, it should be reported as "closed by consumer." This does not directly impact your score. It will impact the average age of your accounts and your credit to debt ratio. Both of these are considered in calculating your score.
If you are looking for the free credit report national site, check out this site
http://free-credit-report-national.com/
Here you can check your 3-in-1 Report from all three credit reporting agencies and your credit score rating for free, fast and secure.
Hope this help,
March, 5th 2010 at 12:01 am
You can’t let your credit card expire, the issuer will automatically send you a new card before the old one expires. Unless you or they cancel the account, it never actually expires. If you close the account, it should be reported as "closed by consumer." This does not directly impact your score. It will impact the average age of your accounts and your credit to debt ratio. Both of these are considered in calculating your score.
If you are looking for the free credit report national site, check out this site
http://free-credit-report-national.com/
Here you can check your 3-in-1 Report from all three credit reporting agencies and your credit score rating for free, fast and secure.
Hope this help,
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