http://blog.lendingclub.com/2007/07/06/the-importance-of-credit-%e2%80%93-part-3-how-to-maintain-good-credit/ The Official Lending Club blog Sun, 29 Jan 2012 13:31:47 +0000 hourly 1 http://blog.lendingclub.com/2007/07/06/the-importance-of-credit-%e2%80%93-part-3-how-to-maintain-good-credit/#comment-125 Sidney Chen @ Lending Club Sun, 08 Jul 2007 06:50:07 +0000 http://blog.lendingclub.com/2007/07/06/the-importance-of-credit-%e2%80%93-part-3-how-to-maintain-good-credit/#comment-125 Thanks Tyler for your comment. You are right about the potential of a drop in credit score from closing a credit account. However, the scenario is a bit more complex than this. One's credit score may increase OR decrease by closing a credit account depending on the particular circumstance. I will post a more detailed overview on this issue in the coming week to discuss this scenario further. Thanks Tyler for your comment. You are right about the potential of
a drop in credit score from closing a credit account. However, the
scenario is a bit more complex than this. One's credit score may
increase OR decrease by closing a credit account depending on the
particular circumstance. I will post a more detailed overview on
this issue in the coming week to discuss this scenario further.

]]> http://blog.lendingclub.com/2007/07/06/the-importance-of-credit-%e2%80%93-part-3-how-to-maintain-good-credit/#comment-124 Tyler Sat, 07 Jul 2007 06:37:11 +0000 http://blog.lendingclub.com/2007/07/06/the-importance-of-credit-%e2%80%93-part-3-how-to-maintain-good-credit/#comment-124 BEWARE: Closing credit accounts, even if unused, can cause a drop in credit scores. If the account has zero balance and no annual fee, why not just cut up the card but allow it to stay open to improve (due to credit history length) your credit score? An option to consider. BEWARE: Closing credit accounts, even if unused, can cause a drop
in credit scores. If the account has zero balance and no annual
fee, why not just cut up the card but allow it to stay open to
improve (due to credit history length) your credit score? An option
to consider.

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