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Closing CC with low age increase score?

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vwgrrc
Regular Contributor

Closing CC with low age increase score?

Does it decrease AAoA immediately? If the total utilization hold below 10%. Does this affect my score? Which direction?

Message 1 of 4
3 REPLIES 3
Anonymous
Not applicable

Re: Closing CC with low age increase score?

It does nothing to your AAoA... It still counts, even though you closed it

Message 2 of 4
jacetx
Valued Contributor

Re: Closing CC with low age increase score?

As mentioned proviously it does not affect your AAoA. Regarding the utilization take a look at this thread: http://ficoforums.myfico.com/t5/Credit-Cards/Closing-Credit-Cards/m-p/347190

Message 3 of 4
_NERD
Established Contributor

Re: Closing CC with low age increase score?

Isn't this the following util scorecard?

1-9% Excellent
10-29% Good
30-49% Fair
50-74% Poor
75%+ Very Poor

Does your util hold under 10% AFTER the account closure, or was it under 10% until the account was closed?

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