Credit question...

[Unicorn Jeff]

So Nov 2013 I went into zales and applied for a little credit and was able to get it, but I never used and it was only good for a month. For some reason I still have that line of credit still open. I can't use it since it was only good for a month. My question is... will I get dinged or anything if I close it?

They told me that it would show up "Closed by Consumer." I don't know if that's a good thing or a bad thing. I'm leaning on just closing it since I can't use it and there's no point, but I just want to make sure it's going to effect me negatively.

[AdRock]

Personally, I would close it. Showing as closed by consumer isnt going to hurt anything.

[jefehbk]

Would it hurt you to leave open? Just leave it and forget it.

[Unicorn Jeff]

Would it hurt you to leave open? Just leave it and forget it.

That's me question, I don't know if it will hurt me if I leave it open, or just to close it.

[ELVIS]

close it??? nigga go buy a dookie rope. dont be stupid!

god bless.

[GE]

On a related note, I got one of those "go to the website and get an instant credit line increase" on one of my CC's. Don't really see a reason to do so... would it theoretically be beneficial if you were to increase the room for debt/utilization ratio? I don't really need it, but was wondering if there would be any benefit.

[BlackGT]

Personally, I would close it. Showing as closed by consumer isnt going to hurt anything.

Wrong, closed by consumer is not good on a credit report. Closed by provider is fine.

Leave it open and let them cancel it for inactivity.

[bcoop]

On a related note, I got one of those "go to the website and get an instant credit line increase" on one of my CC's. Don't really see a reason to do so... would it theoretically be beneficial if you were to increase the room for debt/utilization ratio? I don't really need it, but was wondering if there would be any benefit.

Depends entirely on your situation. It can help, but it can also hurt. Hard to say without knowing your debt to income, open lines of credit, etc.

[Pro88LX]

id just leave it open to decrease your open credit utilization % and also increase the average age of your open tradelines if you have opened stuff since then.

[juiceweezl]

Depends entirely on your situation. It can help, but it can also hurt. Hard to say without knowing your debt to income, open lines of credit, etc.

This is DFWmustangs. Debt is a fictional object. Everyone here has 18" dicks and choo$choo$$$$$

[Nash B.]

Depends entirely on your situation. It can help, but it can also hurt. Hard to say without knowing your debt to income, open lines of credit, etc.

under what circumstances would it hurt?

[bcoop]

under what circumstances would it hurt?

I was always under the impression that too much available credit is a bad thing in the eyes of lenders. Pretty sure that came from my mortgage broker, several years ago. I've slept AND been inebriated since then, so I could be wrong.

[Pro88LX]

I was always under the impression that too much available credit is a bad thing in the eyes of lenders. Pretty sure that came from my mortgage broker, several years ago. I've slept AND been inebriated since then, so I could be wrong.

Pesonally as a mortgage underwriter i see high limits with low balances as a good thing. it shows money management skills and not relying on credit cards to live. but i can see the risk associated with the possibility of additional debt accumulated...

[Broncojohnny]

I am a billionaire astronaut oil tycoon with a 12" cock so i have no need of credit.

[snacksnack]

This is DFWmustangs. Debt is a fictional object. Everyone here has 18" dicks and choo$choo$$$$$

I am a billionaire astronaut oil tycoon with a 12" cock so i have no need of credit.

note to self: don't become astronaut, it'll shrink your wewee.