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One more question about the 3 credit reports I pulled prior to applying for a mortgage...
2 of the 3 agencies list a Home Depot card that I cancelled long ago. It's listed as a $9000 credit line. Experian and Equifax both think it's open and in good standing--- and they are counting that $9000 as part of my available credit.
With this card, I've got $27,000 available credit. Without it: $18,000. I have 3 credit cards with $7000 total debt.
Some say too much available credit works against you, but this is an 11 year old account (my oldest) and without it, my debt to available credit ratio changes.
Should I ask Equifax and Experian to delete the $9000 credit line, or let it go? The goal is a higher score.
If it is reporting as a positive account I would leave it alone. If you have it deleted your credit history will be shortened and your credit utilization will increase substancially. Both of these things will have a negative impact on your credit score.
If your FICO score is over 740, i wouldnt worry about it.
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