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Established Contributor
Posts: 863
Registered: ‎03-04-2013
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Credit Cards and reporting AAoA

My credit union likes to close a c/c account and open new each time they give a CLI etc (issuing a new c/c # and everything).  I'm wondering if this hurts my AAoA if each time I get a CLI they just close the account.  Today I am applying for their Rewards card, but am concerned that if I'm approved that will want to close my current Visa that shows history, and open a new Rewards Visa card that will show as a new account.  I would like to keep my old card open and just open an additional Rewards card.

 

Does it matter which way I do this? Do the closed c/c accounts that show as "Current/Closed"  still count towards your AAoA? 

FICO: EQ 722 | TU 710 | EX 718
SFFCU Visa $15k + LOC $5k, USAA Amex $6k, USAA MC $7k, Amex BCE $25k, Cap1 $4.5k, Freedom $8.5k, Slate $3.2k, Barclays SM $9k, Care Credit $13.5k.

My Credit Repair Journey
Moderator
Posts: 27,207
Registered: ‎09-13-2012
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Re: Credit Cards and reporting AAoA

What CU is it? Issuing new CCs just because of a CLI seems a bit much.

To answer your question current/closed will count towards your AAOA as long as its still reporting. However, the constant opening of new accounts based on a CLI will also affect your AAOA.
Established Contributor
Posts: 863
Registered: ‎03-04-2013
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Re: Credit Cards and reporting AAoA


09Lexie wrote:
What CU is it? Issuing new CCs just because of a CLI seems a bit much.

To answer your question current/closed will count towards your AAOA as long as its still reporting. However, the constant opening of new accounts based on a CLI will also affect your AAOA.

It's SchoolsFirst.  I don't know why they need to do that.  :/  They've been good to me but do strange things.  They have a habit of report incorrectly.  They are small matters but for example they reported a $1740 balance on my old closed credit card from when they raised my CL.  I asked them to correct the balance to zero and they deleted the whole dingdang TL.  (GRRR!!) This makes me not want to close any accounts for fear they may get deleted!

FICO: EQ 722 | TU 710 | EX 718
SFFCU Visa $15k + LOC $5k, USAA Amex $6k, USAA MC $7k, Amex BCE $25k, Cap1 $4.5k, Freedom $8.5k, Slate $3.2k, Barclays SM $9k, Care Credit $13.5k.

My Credit Repair Journey
Blogger
Posts: 3,360
Registered: ‎10-19-2012
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Re: Credit Cards and reporting AAoA

I would ask them first. If they do not transfer the history of the old card to the new card, then yes that would harm your AAoA.

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