Credit Cards

[Smug]

Closed 7 accounts under a year old, toy ones, no issues here.

[FrugalRican]

All bets on CK being used or something similar.

She did say TU... and CK is ceremoniously linked to TU.

[searchingfor67]

I closed three rebuilder cards all within the past year, and I haven't experienced a score drop...

[llecs]

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MarineVietVet wrote:

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LS2982 wrote:

I shut down 4 accounts all within a month and dropped 5 points on EQ and EX and TU stayed the same. AAoA at 1 year.

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It wasn't the act of closing them that caused the score drop. There was something else at play.

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Or util impact.

[llecs]

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mxp114 wrote:

I don't understand how closed accounts work and I did read the sticky.

Are closed accounts calculated based on the opening span or since opening date thru now? For example Open Date 4/22/92 but closed 4/23/93, does that factor 12 months of age into my AAoA or a decade? If a decade, why? If it's the avg age of open accounts, how can the time lapse between closure and now get factored? Just trying to understand it. Thanks.

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AAoA is the average of all OC accounts, whether good or bad, opened or closed. The age of an OC account is calculated off the open date. Side tangent, FICO reads all accounts opened, per AAoA, based on the first of the month in which the CC was opened. So, if you opened one today, your CR will reflect an open date of 4/1 per AAoA calcs. So, if you have an account opened 4/2010 and closed 4/2012, the account is 2 years old (2 yrs 1 mo to be precise) and will continue to report on your CRs for roughly another 10 years before it falls off, adding to your AAoA and length of history. Why 10 yrs? I dunno. Maybe it's in the FCRA? I don't know, but I do know that creditors can delete earleir if they wanted to.

[FrugalRican]

I thought OP's problem was the AAOA dropping, not the score.