What can I do to close my Circuit City credit card account?

If you can help it, do NOT close this store credit card account. Closing an account can never help your FICO credit score. Closing an account can hurt your score in 3 ways:

30% of your score is credit utilization: what percentage of your credit limit is used as balance. You can't get any better than 0%. They total the balances on all accounts, and they total the credit limits. Take away $0 in balance, but more than $0 in credit limit, and your total utilization percentage will go up, and if it goes above 30% your score will get hurt.

15% of your score is length of credit history. If this is your oldest open account, you'll lower your credit score by closing it and shortening your history.

10% of your score is credit mix: what type of credit you have. The good types are mortgage, secured auto loan, major cc (MC, V, AmEx, Disc) and store ccc (Circuit City, etc.). Bad types are payday loans, overdraft loans and personal finance lines of credit for cash advances. Ideally you want one open account for each type of good credit. If this is your only store card, you'll hurt your score.

For more, read "What's In Your Score" at www.myFICO.com

I have no legal or financial interest in Fair, Isaac

Please vote: Did this help?

Firstly, do not send a letter. Chances are, if it is a big bank- NO ONE READS THEM. Mail is processed by machines if you send it to the payment address. Also, they will not close your account just because you wrote and asked them to. Think about it- what if I wrote to them and asked them to close it? No, you have to verify personal information before they will do that. If I remember correctly, Chase was getting the Circuit City cards as I was leaving, so try another number for Chase customer service and see if you get better luck. I think it used to be (800)955-9900 but it has been a few years, so don't quote me :-). Lastly, you CAN HAVE TOO MANY CARDS. It is not always good to keep open old cards. Credit analysts will look at that and see that you could potentially spend up to the credit limit on that card at any time and it will take away from possible future credit lines. Just think about it- would you rather give a loan to someone that has 2 credit cards, or could potentially run up all of their 50 credit cards at any time. The trick is to find the happy medium.

Healthy your making the right decision. Those are nothing more than high interest rate credit card accounts. You may be able to find out what credit card bank it is and locate a different number to call on line. You have to be persistent and keep trying. Try to chose the menu options, and options, that get you to a human person, and go from there. My wife has been trying to close a Bank One card account now for three weeks. They will be persistent at trying to make you change your mind, do not fall for any of their gimmics and/or promisses. You stay on the close the account track no matter what.

the cardboard isn't issued via Circuit city, the cardboard itself is a CHASE card. hence, whether that's an undemanding Circuit city card they're going to likely convert it to certainly one of their huge-unfold taking part in cards, say a Chase Freedom on your stability. If this is the Circuit city Visa you will likely get comparable to above, or in case you're like me, you have your stability/credit cut back transferred to certainly one of your different Chase taking part in cards(I additionally ordered 3 issues from the internet internet site on the fifteenth, and luckily they have been already shipped via the time this document got here out so Chase is honoring my no pastime promos that have been presented fyi for the different Circuit city shoppers thinking if their pastime/charge promos will unexpectedly become void).

If it's paid off, I would send a letter, maybe ever certified to the address on the bill stating you request to close your account. It may not be in your best interest to close the account as it is good for your credit to keep it open even if not used.

If it's PIF, and you have no annual fee...don't close a good account, you will take a FICO hit

if u have 0 balance then call them up and close it..

what the hell is circuit city?