@knowledgeseeker85 wrote:Hello!
If I pay off my most recently opened credit card (2012) and close it, will that positively affect my credit score and average credit history? I have four cards (2 bank cards and 2 store cards- Walmart and Amazon). I would like to pay off the Walmart card and close it.
Is this wise?
Will not change AAoA as closed accounts stay around for up to 10 years post close, however closing accounts that dont have an AF are normally not recommended. The thing that affects you immediately when closing card(s) is utilization you lose the available credit that was associated with that account. You need to obtain one more bankcard to eventually optimize your FICO score(s).
