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New Member
jimlenz
Posts: 5
Registered: ‎07-19-2010
0

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

Epic Contributor
Creditaddict
Posts: 20,897
Registered: ‎10-23-2007
0

Re: New Credit Cards

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

Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 695 NASA(10-6-14)
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Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
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Contributor
Alexandria
Posts: 98
Registered: ‎01-14-2008
0

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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Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
0

Re: New Credit Cards

How is a 780 score a struggle?

 

New Member
jimlenz
Posts: 5
Registered: ‎07-19-2010
0

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

Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010
0

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.


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