Comments on: Closing Credit Accounts will Not Help Your Credit Score

By: Bhavini

Bhavini — Thu, 01 Jan 1970 00:00:00 +0000

Well– learning too much latelt about crediet and credit score– I am sure will find more info if I win the book.. BTW I love OTM show on cnbc– lot of good stuff– just have to mention this

By: PT

PT — Thu, 01 Jan 1970 00:00:00 +0000

This contest is over. Thanks for playing, everyone.

By: Alllie

Alllie — Thu, 01 Jan 1970 00:00:00 +0000

love to win a copy of the book. would read it and pass it on or return it if needed
thanks so much

By: Alllie

Alllie — Thu, 01 Jan 1970 00:00:00 +0000

really striving to get out of debt and improve both spending habits and credit scores.

By: MrPlasectomy

MrPlasectomy — Thu, 01 Jan 1970 00:00:00 +0000

I recently closed my oldest account fully knowing that my credit score was going to take a hit and by my name I am sure you can tell what I am doing. I have a home and a car so to me closing that account didn’t matter.

I knew the card number by heart which was dangerous. I didn’t need to have it anymore to make a purchase with it.

Please don’t consider me in the contest. Thanks

By: Bekki

Bekki — Thu, 01 Jan 1970 00:00:00 +0000

This book could prove really useful to me and my family

By: J

Thu, 01 Jan 1970 00:00:00 +0000

@MK…through trial and error, I found out that credit companies submit your info at the end/beginning of the calender month, and that info is generally compiled fully by the 20th of the month.

By: Va

Va — Thu, 01 Jan 1970 00:00:00 +0000

I closed all my department stores cards like Sears, Macys etc but I still keep open my major credit cards as VISA, AMEX etc although they are in $0 balance.

I’m following one of Ramsey rules about to buy everything in cash, so if I save a lot money I will be able to buy anything in cash and I will not necessary need my credit score. But now I have doubts about to get good quotes for insurances.

btw, I love your site. This is really great!.

By: SAH

SAH — Thu, 01 Jan 1970 00:00:00 +0000

Would love a copy!!!!

By: PT

PT — Thu, 01 Jan 1970 00:00:00 +0000

@Jeremy – Maybe my title should have been “it’s a myth that closing accounts will improve your credit score.” I may occassionally flip a title on its head for greater impact. As a blogger I get to do that though.

Titles aside, I think the advice in the post is valid and well supported by the basic factors that make up one’s credit score.

I’d definitely encourage anyone serious about improving their score to go out and read Liz’s book. She knows her stuff and has your best interest at heart.