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Credit Card Portfolio organization

New Contributor

Re: Credit Card Portfolio organization - UPDATE!

 


longtimelurker wrote:

user5387 wrote:

Closing cards has no immediate effect on AAoA.

 


Right, so keeping a card just because it is the oldest isn't really needed either.

 

AAoA in FICO (though not in Credit Karma) is based on open AND closed accounts that are on your report.   Closed accounts generally cease to report after 10 years (although it can be sooner) so you lose nothing for those 10 years.  And by then, hopefully, your credit situation is different (and better).

 

So with your US Bank CLI, are you going to ask to PC to Cash Plus?


Yep!  We shall see how that all turns out! Smiley Happy 

Message 21 of 22
Senior Contributor

Re: Credit Card Portfolio organization - UPDATE!


user5387 wrote:

Closing cards has no immediate effect on AAoA.

 


Right -- it's utilization that is immediately affected.

 


longtimelurker wrote:

AAoA in FICO (though not in Credit Karma)


...as CK actually reports AAoOA.

Message 22 of 22