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Help or Hurt


strabismo
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I need to know if closing a couple of my credit card accounts will hurt me or not.

Currently have:

Cap1 Premier 0/300

Cap1 Premier 120/300 (will pay off this month) just opened last month

Cap1 Premier 0/1000

B of A 1700/5500

HH GM card 0/1500

HH GM card 0/2000 authorized user

HH CC 0/300 just closed

Just approved for Amex green

I am looking to close the small capitol one cards and removing myself as an authorized user form the HH GM. Should I do this or will it hurt my rebuild process. I do not like the small cap1. I am looking to buy a house in 4-5 months and would like to know if this is the right thing to do. Thanks.

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I am new at this.... and honestly I have no idea how it will affect your credit to close the cards , but plenty of the skilled people here will be able to help you. I wanted to answer your post just to tell you ... be carefull with CAP 1 , they are BEAST !!! I swear I think they work for the devil , or the devil works for them , im not sure which .

Like I said I don't know what it will do to your credit , But if at all possible I would avoid the capitol one cards at all cost !!! .... JMO :D

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Yup.

There's no need to remove yourself as an AU (on an account with postive credit history) as it is not calculated into your DTI.

Do a search for the DTI calcuator I posted a while back. That will give you a better idea of where you sit. While you have to keep in mind the "potential for default" is often factored in, simply closing accounts without consultation (whether DTI in your case is a factor) will crush your credit picture. FICO places a bulk of it's grip on history.

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