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New Visitor
Posts: 2
Registered: ‎02-27-2013
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Effect of closing young account after transfer credit line

I was wondering what the effect on your credit age is if you cancel a credit card within the 1st year of opening, but you transfer your credit line to another account before doing so. For example, I close a 8 month old Chase account, but I transfer the 7k credit line to another account before doing so.  TIA

Frequent Contributor
Posts: 371
Registered: ‎12-30-2012
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Re: Effect of closing young account after transfer credit line

It will have no effect on the age of accounts. 


CSP-$8700, Amex BCE-17.2k, Chase Freedom-$5700
Discover It-$6600, USAA MC-$5900 Ink Bold- $18k
EQ-742 EX-702 TU-737
New Visitor
Posts: 2
Registered: ‎02-27-2013
0

Re: Effect of closing young account after transfer credit line

Thanks. Transferring the line should avoid a point dock by avoiding a change in utilization ratio, right? So in all canceling this way shouldn't affect my score right? Thanks.
Frequent Contributor
Posts: 371
Registered: ‎12-30-2012
0

Re: Effect of closing young account after transfer credit line

right. if you transferred the credit limit then your util will stay the same and the closed account will continue to report for 10 years.  The only hit youll take is for opening a new account as it will out an inquiry on your credit and lower your average account age.


CSP-$8700, Amex BCE-17.2k, Chase Freedom-$5700
Discover It-$6600, USAA MC-$5900 Ink Bold- $18k
EQ-742 EX-702 TU-737
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