So after a long battle, I've gotten my finances together, and my FICO up to 778. Just got a letter that Chase is closing one of my accounts that had a 5k limit. The reasons they gave were BS, but whatever, they're closing it cause I don't carry a balance on it cause the rate is 27%, thieves. This will bump my utilization up from 36% to 53%. I'm paying off at the rate of 1k per month, so that will drop back down in a few months. I know I'm going to take some kind of hit to my score, just wondering how much.

Why, are you buying a house in the next 3 months?

If you can't afford to buy cash -- how about approaching a credit union and buying a 4-5 year old reliable vehicle for $3-4k with a used note. Perhaps a Hyundai or Kia...

Thanks for the advice, but no one is going to buy insurance and annuities from me showing up in a Hyundai, its hard enough showing up in a 10 y/o Lexus.

Now can someone answer my question? Or point me to a simulator that can help? I tried the one on Credit Karma and it doesn't have the ability to adjust your available credit, just to adjust your balances

InABind said:Thanks for the advice, but no one is going to buy insurance and annuities from me showing up in a Hyundai, its hard enough showing up in a 10 y/o Lexus.

Now can someone answer my question? Or point me to a simulator that can help? I tried the one on Credit Karma and it doesn't have the ability to adjust your available credit, just to adjust your balances

I wouldn't want to buy insurance and annuities from someone who can't manage their own credit issues.

The fact of the matter is no one really knows. It should only be a few points though.

InABind said:wow, what a bunch of sanctimonious assholes around here. nevermind.

WELCOME TO FATWALLET FINANCE!

InABind said:wow, what a bunch of sanctimonious assholes around here. nevermind.
THAT's what my ex-wife said about me all the time. It's been so long, I'd forgotten. Thanks for reminding me. Those were good times.

EdMcK515 said:InABind said:no, but I need a car, mine is 10 years old and has 115k on it, would like to get one of those nice 0% deals they are offering right now.

So? My 14 year old car with 182K miles is still going strong. Unless the car completely breaks down you won't NEED a new car. You can still want one, but realize its a want not a need. Just do proper maintenance and repair stuff before it becomes big problems.

I am with you on that one. I have a 1999 vehicle with over 185K miles on it and she's still going strong. I can go to Los Angeles or San Diego tomorrow if I wanted to and still make it back to Sacramento. Granted, I have thought of getting a slightly newer vehicle, but that's all I've done (just thinking). The thought of having car payments makes me shudder.

With that said, the OP states he has a Lexus. Correct me if I'm wrong but the last time I checked a Lexus will not only last a long time but has an excellent reputation of reliability (since it's really an overpriced Toyota).

Whether you all realize it or not, the surprising thing here is not that the prior comment was made. Rather, the surprising thing is that it took nearly an entire page (assuming most FW users' normal monitor/display preferences) for it to BE made.