Reply
New Contributor
GatorGuy
Posts: 351
Registered: ‎06-02-2013
0

Re: Am I Making a Bad Decision?


09Lexie wrote:
@GatorGuy

Yep..he added 5 new TLs. It fell hard

I added 5 myself. Just goes to show you that having a thicker file obviously helps.

If women didn't exist, all the money in the world would have no meaning. -- Aristotle
Starting Score: 777
Current Score:  761
Goal Score:      800
Frequent Contributor
oscar_actuary
Posts: 293
Registered: ‎03-25-2013
0

Re: Am I Making a Bad Decision?


eagles08 wrote:
Well really these accounts I'm wanting to close are only a few months older than my BCE and Freedom so I'm really not losing much AAoA even if they dropped now I suppose.

That's not the point, actually.

What will matter more is how many old-ish accounts you have when these fall off and how many new ones you open then.

 

I've destroyed my AAoA the last two years, especially compared to what it could have been has I not closed cards in the 1980s and 1990s.

FICO EX 739, 2013 Jun. FICO TU08 791, 2014 Apr. FICO EQ 736, 2013 Aug.
BofA Cash Rwrds Sig V 2013 10k; Fidelity Rewards AmEx /BofA 2013 15.4k; Chase Freedom Sig V 2002 24.1k; Chase Amazon Rwrds Sig V 2011 8k; Sam's Club GE Dscvr 2002 10k; Dscvr It 2012 10k; Citi Dvdnd Plat Sel V 2013 8.9k; PenFed Plat Rwrds V 2013 20k; AmEx Blue Sky 2013 21.6k; Priceline Rwrds Sig V 2013 8.7k; PayPal Xtras GE Cap Plat MC 2012 5k; JC Penny 2011 1k

Senior Contributor
longtimelurker
Posts: 5,974
Registered: ‎04-22-2013
0

Re: Am I Making a Bad Decision?

[ Edited ]

oscar_actuary wrote:

eagles08 wrote:
Well really these accounts I'm wanting to close are only a few months older than my BCE and Freedom so I'm really not losing much AAoA even if they dropped now I suppose.

That's not the point, actually.

What will matter more is how many old-ish accounts you have when these fall off and how many new ones you open then.

 

I've destroyed my AAoA the last two years, especially compared to what it could have been has I not closed cards in the 1980s and 1990s.


Yes, but at a certain point AAoA really doesn't matter much, you will be done apping and have the cards you want.  Yes, things can go bad, so the picture ~10 years down the road could be bad and you wish you had kept those cards.  But, maybe if you had kept the cards, you would have had a horrible identity theft situation on one of them that you just couldn't get fixed and ....

 

So, personal preference again!

Most active cards: Amex BC ($50K), Cap One QS ($33K) Fidelity Amex ($20K)
Others: CSP, Freedom, Chase Amazon, Cap One QS, Penfed Plat Rewards (x2), Citi TY Preferred, Citi Dividend, Citi AA Plat Select, Citi Forward, Amex BCE, Amalgamated Bank, Sallie Mae, Cash Plus
Scores May 14: EQ 848, EX 833, TU 841 (Jul)

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+