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Old 06-10-2012, 05:59 PM   #1
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talkingconch's Avatar
Join Date: Feb 2011
Posts: 3,961
Default if you have good credit score, does this hurt?

the credit card company offers a payment arrangement that significantly reduces monthly payments and APR for 1 year, and after that it's back to normal payments and APR, BUT the card closes permanently. Does this negatively impact a persons credit score, if so for how long?

Lets say you've never missed payments or had late payments with this particular credit card company.

and you have other credit cards that are still open that you're continuing to pay off with no missed payments aswell.
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Old 06-10-2012, 06:24 PM   #2
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Join Date: Apr 2011
Posts: 14,743
Default Re: if you have good credit score, does this hurt?

a closed account looks bad on your credit report. you want to keep your accounts open even when your not using the available balance.
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