Re: Would this help?

Xavyc3 · ‎10-17-2012

I'm currently trying to improve my low scores. I'm considering closing a new cc with a low limit to lower my average age of accounts. Will this work? Or does the average age portion of the FICO score model also count closes accounts.

Score: EQ 734 (7/15/14) myFico
EX 761 (6/27/13) AMEX

CSP ($17,600), AMEX BCE ($14,500), DCU Visa Platinum ($10,000), Chase Ink Plus($5,000), BOA 123 ($5000), Chase Freedom ($4,000), Discover($2500), Cap 1 MC ($2,500) , Cap 1 MC ($1,500)
All thanks to the nice people at myfico.com

bettercreditguy1 · ‎10-17-2012

The damage was finite when the application was checked. (Inquiry registered first,then the "hit" of the "new credit account" occuring.)

Updated scores 3/7/21 TU 849, EQ 829, Ex 818 (all Fico scores) Remember the Three P's: Pay early in Full, Pay on Time, Patience

Shogun · ‎10-17-2012

Nope, damage is done on that. You've taken all the damage of a new account. HP and AAoA. Let that thing age. Garden it. Don't close it!

Starting Score: 504
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.

Would this help?

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Would this help?

Re: Would this help?

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