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Hi Guys,
I keep seeing this message:
"On average, many of your accounts have been open less than 3 years. Having long term credit accounts that you consistently pay on time is an important indicator of stability to lenders."
Should I close accounts that are less than 1 year old? Would this help or hurt? I have Macy's that I opened six months ago and maybe another card of two that I don't need. My oldest CC has a 7 year history.
- UM
Personal: American Express Platinum - NPSL | American Express Blue Cash Preferred - $15,000 | Chase Sapphire Reserve - $38,500 | Chase Amazon Prime Visa - $7,200 | Chase Freedom - $500 | Barclaycard Arrival+ - $18,600 | PenFed Platinum Rewards - $25,000 | PenFed LOC - $10,000 | Navy Federal Credit Union Platinum Visa - $25,000 | Navy Federal Credit Union LOC - $10,000 | Citi Double Cash - $12,170 | Citizens Cash Back+ - $8,650 | Citizens LOC Overdraft - $8,000 | Discover - $10,000 | Capital One Quicksilver One - $3,600 | Capital One Platinum - $750 | Valero - $600 | Dell - $3,000 | Lowes Advantage - $30,000 | Macys Amex - $25,000 | The Home Depot - $7,500 | Tourneau - $15,000
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AAoA includes all closed accounts on your CR.
You're stuck at this point. Closing the accounts will still leave them on the report, and after 10 years it will end up making a difference.
Just leave them, AAoA is important, but this is not a critical problem.