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New Credit Cards

New Member

New Credit Cards

I am pretty fortunate to have a credit score at 780.  However, where I struggle is in age of credit card.  I mistakenly closed 3 old cards, though they are still on my report for a few more years. 

 

I have opened 5 new accounts since 2008 which is having a negative affect on my aging.  I am trying to figure out how to get the aging score increased.  Based on what I have read, I should continue to keep the new accounts open, despite what they are doing to my score.  Is this correct?

 

Any other suggestions?

 

Thanks

 

Jim

Message 1 of 6
5 REPLIES
Epic Contributor

Re: New Credit Cards

You have already taken the hit for opening new accounts, so closing them now will not help you.

Message 2 of 6
Contributor

Re: New Credit Cards

 


Creditaddict wrote:

You have already taken the hit for opening new accounts, so closing them now will not help you.


^^^ that and don't open any more accounts. You could also maybe become an AU on someone's old account to add it to your AAOA.

 


Starting Score: 626 (July '10)
Current Score: 679
Goal Score: 720


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Message 3 of 6
Senior Contributor

Re: New Credit Cards

How is a 780 score a struggle?

 

Message 4 of 6
New Member

Re: New Credit Card

I think I phrased this wrong.  780 is a good score, I am not complaining.  I screwed up and closed some old cards and opened some new ones.  Based on the comments, there is not much I can do but let them mature and age and when my old closed ones go off, hopefully it wont hurt my scores too much. 

 

Jim

Message 5 of 6
Highlighted
Senior Contributor

Re: New Credit Card

I thought a lender wanted a better score to get credit or better rate.

 

This is one of the rare problems were doing nothing but wait is the best.

Message 6 of 6