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New Member
Xavyc3
Posts: 1
Registered: ‎10-17-2012

Would this help?

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.
Established Contributor
bettercreditguy1
Posts: 653
Registered: ‎02-11-2012

Re: Would this help?

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

Starting scores 01/ 02/2012 EQ 707 TU 733 EXP 735 (FAKO)
Updated scores 05/01/2013 EQ 761 TU 780 EXP 788 (Exp. equivalency)


Remember the Three P's: Pay early in Full, Pay on Time, Patience
Moderator
Shogun
Posts: 7,375
Registered: ‎04-15-2011

Re: Would this help?

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

Current Score: EQ FICO 819, TU08 775, EX "Who Knows?" Quizzle 756
Goal Score: All Scores 760+, Newest goal 800+

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