General Credit Topics

turn on suggestions Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Reply
Topic Options
Established Contributor
jcstarkey8826
Posts: 680
Registered: ‎06-01-2012

confused about AAOA

Options

‎08-17-2012 06:31 AM

so Ive read different things about AAOA, but If I close a card that wont mess with my AAOA, right? If charge-offs factor into your AAOA then so would a closed CC, I would think. So what are the general negatives of closing a card?

In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Store Card 1800 CL, Kay Jewelers 3000 CL
Message 1 of 4 (167 Views)
 
Reply
Valued Contributor
Jutz
Posts: 1,142
Registered: ‎05-10-2012

Re: confused about AAOA

Options

‎08-17-2012 08:07 AM

Utilization 

Current: EQ FICO 664, TU FICO 683, EX FICO 698 | Starting Score: 525 (05/2012)

Starting total revolving credit: $1100 | Current total revolving credit: $7000

Inquiries (12 Months): EQ 3 TU 2 EX 2 | Most Recent: 1/8/2013


2013 Goals:
New Car
700 Club
AMEX Member

AMEX Gold NPSL
DCU Visa $2000
Cap1 Cash Rewards $2000
BOA Platinum $600
WalMart $800
Message 2 of 4 (151 Views)
 
Reply
Established Contributor
jcstarkey8826
Posts: 680
Registered: ‎06-01-2012

Re: confused about AAOA

Options

‎08-17-2012 08:09 AM

Id be ok using that, I pay them off monthly now that I know the billing cycles so if thats my only drawback of closing I might do that soon on a secured card I have.

In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Store Card 1800 CL, Kay Jewelers 3000 CL
Message 3 of 4 (148 Views)
 
Reply
Moderator Emeritus
MarineVietVet
Posts: 14,084
Registered: ‎07-14-2009

Re: confused about AAOA

Options

‎08-17-2012 08:13 AM

jcstarkey8826 wrote:

so Ive read different things about AAOA, but If I close a card that wont mess with my AAOA, right? If charge-offs factor into your AAOA then so would a closed CC, I would think. So what are the general negatives of closing a card?

Here is an excellent thread about Closing Credit Cards.

Message 4 of 4 (144 Views)
 
Reply

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
www.myfico.com is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+