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-   -   Does closing cc generate an 'inquiry'? (https://www.flyertalk.com/forum/credit-card-programs/792040-does-closing-cc-generate-inquiry.html)

veggie_lover Feb 18, 2008 7:58 pm
Does closing cc generate an 'inquiry'?
 
I searched but could not find the answer. My guess is no, but want to double check before I cancel a few.

garfangle Feb 18, 2008 8:06 pm
Originally Posted by veggie_lover (Post 9273574)
I searched but could not find the answer. My guess is no, but want to double check before I cancel a few.
NO.

FriscoHeavy Feb 18, 2008 8:42 pm
No, it does not

broadwayblue Feb 18, 2008 9:51 pm
as the others have mentioned, no it doesn't. but closing old accounts can have a negative effect on your credit score.

soitgoes Feb 19, 2008 2:55 pm
Originally Posted by broadwayblue (Post 9274120)
but closing old accounts can have a negative effect on your credit score.
indeed...particularly in two ways:
1) reduce the average age of your accounts (older is better). You shouldn't close a card if it's your oldest account on your report--if it's an annual fee card, see if you can switch to a no-fee version.
2) increase the utilization of your availability credit. (lower is better).

If you keep these things in mind, go ahead and cancel.


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