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3 Responses to “I heard it hurts your credit score to close accounts. What about Identity theft?”
There are some instances where closing account helps you and others that hurts your credit, type of credit, ratio of debt to available balance, age of account, all of this come into play, it is not a simple answer, but you can go to and click on Ultra Score for more information, there is a lot of information that would be helpful in answering your specific concerns.
yes it lowers your score because you are losing that history; if there is identity theft then you can always request your credit file to be froze.
that means nobody (including YOU) can’t request/apply for credit in your name…..if and when you do need to apply for credit then you will have to call and have them remove it
Yes, you are. More people should think about. Plus with them open, it’s an opportunity to go back into debt. People should stop worshiping at the fico alter.
February 2nd, 2009 at 9:09 pm
There are some instances where closing account helps you and others that hurts your credit, type of credit, ratio of debt to available balance, age of account, all of this come into play, it is not a simple answer, but you can go to and click on Ultra Score for more information, there is a lot of information that would be helpful in answering your specific concerns.
February 5th, 2009 at 2:32 pm
yes it lowers your score because you are losing that history; if there is identity theft then you can always request your credit file to be froze.
that means nobody (including YOU) can’t request/apply for credit in your name…..if and when you do need to apply for credit then you will have to call and have them remove it
February 7th, 2009 at 12:09 pm
Yes, you are. More people should think about. Plus with them open, it’s an opportunity to go back into debt. People should stop worshiping at the fico alter.