Houston Credit Repair Expert, Vanessa Perry explains why closing accounts is not beneficial for your credit in the latest episode of Ask Impeccable below.
Should I️ Close My Account?
The simple answer is absolutely NOT. Never close a good account. Once an account is paid off to a zero balance it is still revolving. The paid off account still is building your credit history over the duration of the account. If you pay off all your debt make sure you keep the accounts open. Keep them paid down to a zero balance. Closing the accounts will not help your credit it will only hurt your credit score.
What Happens When I️ Close My Accounts?
By closing a good account you essentially are deleting that credit history. An account may be open for ten years and by closing that good existing account it is taking that credit history away. You will notice a decrease in your credit score by closing good existing accounts. If you are considering closing an account consider the damage it will do to your credit scores. If you have any questions about debt, credit reports or scores make sure to contact a professional before doing anything hasty such as closing good existing accounts. Credit experts such as Impeccable Credit Services can assist with all of your credit needs.
Houston Credit Repair
Impeccable Credit Services has been proudly voted and ranked one of the top credit repair companies in the Houston area. With over 17 years in business, we are able to assist clients with our expertise and knowledge in the credit restoration field. Our goal is to educate others about credit while helping them achieve their goals towards financial success. If you have any questions regarding your credit please feel free to contact us at 713-378-1500. With two physical locations and virtual meetings, we can help anyone in any area.