Credit History shoter after first Account dropping off
Hi all,
On May 2009, my credit history length will be shorter by 4 years since my first account will be dropping off from the reports. From my knowledge the account will stay in my history for 7 years from when it was last reported. I am expecting it to drop off on May 2009. Here is some information on my history as is and as expected:
First revolving account opened 1996 (authorized acct) Citi Card : closed on Oct 2001 last reported May 2002 Second revolving account opened 2000 Capital One I have altogether 10 accounts(open 7 and closed 3)
Credit History currently 11 years Credit History after 2009 drop off 8 years
So, my question is will this means my credit scores are also going to drop following the length drop? Generally people who have longer credit histories have better score. I have also heard that it may help since it is the oldest account i had.
Please give me some insight, suggestion or knowledge from your experiences. i greatly appreciate it.