07-14-2010 01:06 PM
i have a cap one cc for 500 dollars and af 39 dollars which is due on sept. i have the cc for almost one year. cap one csr said will not go any higher. should i close the account? i really dont need the card just got a new visa for 8500. the only reason i will keep the card because my aaoa sucks i would like to have two years cefore i close.
07-14-2010 01:23 PM
closing won't affect ur aaoa immediately just starts the clock until the ten year drop off period. The fact that it's open and being your longest open account may help in getting the next card 6 months down the road. Closed accounts factor in your aaoa but i don't think they help lenders determine whether your credit worthy open/recent history helps.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.