Credit Karma targeted email manipulation #3: Closed account.

[u/BrutalBodyShots]

3 for 3 in bad/inaccurate information here with this targeted email.

First it says "credit card use can go up." That's incorrect. The amount your cards are "used" isn't impacted by closure. What they mean is that *utilization* may increase due to the loss of the credit limit. That's just bad language, but not a huge deal. It then says, "increasing a different card's credit limit could help balance your debt-to-income ratio." That's blatantly false and pure misinformation. DTI is figured based on what you owe (monthly payments) relative to your income. Increasing the credit limit on an existing card or obtaining another credit card to increase overall credit limits cannot impact DTI. Monthly debt/payments would remain the same. Increasing credit limits doesn't lower DTI.

Next, it suggests "Your average age of accounts could go down." That's pure misinformation, because the closure of an account does not change your age of accounts metrics. This has been discussed throughout multiple installments of the Credit Myth series on this sub. Both FICO and VantageScore include open *and* closed accounts in their age of accounts metrics.

Last, they suggest reaching out to the lender to see if you can get your closed account reopened. I think most are aware, but it's extremely rare to be able to reopen a closed account. The standard/rule is that a closed account will remain closed. Being able to reopen a closed account is the exception.

[u/og-aliensfan]

Last, they suggest reaching out to the lender to see if you can get your closed account reopened. I think most are aware, but it's extremely rare to be able to reopen a closed account.

Well, in that case, I guess I need to open a new card! I wonder if Credit Karma has any suggestions? /s

[u/BrutalBodyShots → u/og-aliensfan]

Right? They definitely well played the setup on that last bullet point ;)

[u/CobaltSunsets]

Ugh. Well, at least CK doesn’t hawk their “advice” here.

[u/RealRandomNobody]

Suggestion: add links to these "credit karma targeted email manipulation" posts to the bottom of your Credit Karma 101 post. Or can you no longer edit that post since it's been archived?

Or maybe /u/Funklemire can link them to the bottom of the Credit Myth mega thread where he has the credit karma 101 link.

I've got all the Credit Attorney Tips posts linked in a single thread, too, if someone wants to link it somewhere -
https://www.reddit.com/r/CRedit/comments/1medbr4/credit_attorney_tips_mega_thread/