Girl on phone

Reader’s Question

My husband has three old credit cards from college that he racked up, then didn’t pay for years. A few years ago he started with a debt free counseling program that took a lump sum every month and paid each card a certain amount, with the agreement with the card issuers that he would not have fees or interest rate changes while on this program.

He was told that he has a zero credit limit on these cards, and once they are paid, they will be closed. We are receiving a good tax return this year, and plan to pay off the cards. What we really want to know, is what should we try to get them to mark the accounts as on his credit report to have a positive or least negative impact on his credit score? I’ve heard that we should ask for closed at consumer’s request. Is this good?

My Response

Closed at consumer’s request will work fine. The account history is what is really going to affect your credit score (as long as it’s not marked as a charge-off).