new scam

[Tyson Rayles]

You won't take a hit on your FICO for very long by canceling your cards. When I canceled several of mine my score went from 765 to 742. Within 6 months it was back to where it was and now 3 years later it is even higher. The main reason I keep the one card though is with my mortgage and car paid for it is the only regular payment I make (which I pay in full each month) and if you have no payments of that type your FICO will take a hit as no credit is worse that bad credit. The whole thing is a scam anyway as canceling your cards and lowering your debt should increase your FICO not lower it.