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will merging my capital one accounts and closing a few hurt my score

Regular Contributor

will merging my capital one accounts and closing a few hurt my score

i am trying to limit number of credit cards..i have 2 older quicksilver ones with annual fees and i just merged both of them on my new quicksilver with no annual fee..i hope i did the right thing..the original 2 were opened in 2011 and 2012..will this hurt my credit history

Message 1 of 5
4 REPLIES
Super Contributor

Re: will merging my capital one accounts and closing a few hurt my score


fritscher wrote:

i am trying to limit number of credit cards..i have 2 older quicksilver ones with annual fees and i just merged both of them on my new quicksilver with no annual fee..i hope i did the right thing..the original 2 were opened in 2011 and 2012..will this hurt my credit history


they will stay on your report probably for another 10 years, so no it won't have a negative effect


FICO8 EQ 758 TU 778 EX 732 Total revolving 480k







Message 2 of 5
Community Leader
Legendary Contributor

Re: will merging my capital one accounts and closing a few hurt my score

The creditor could decide, at any time, to delete their entire reporting of the account, thus simplifying their monthly reporting.

After you close an account, you cannot ensure that the creditor wont simply delete.

 

If the entire account is deleted and its age is longer than your current AAoA, it might have some effect on scoring.

However, avoiding annual fees usually trumps any slight scoring impact that might result from decreased AAoA.

 

Message 3 of 5
Regular Contributor

Re: will merging my capital one accounts and closing a few hurt my score

thank you both

Message 4 of 5
Senior Contributor

Re: will merging my capital one accounts and closing a few hurt my score

fritscher,

 

Robert is correct in what he said above.  I will however state that in my personal experience what he described is far less common that a closed account actually staying on your credit report for 10 more years as SJ suggested above.  Closed accounts do get deleted at times by the creditor, but IMO that is more of the exception than the norm.  I also think this largely varies from creditor to creditor, so perhaps posting a Capital One specific related question about this topic may be of use to you if you really want to know what the chances are of that happening with your closed account(s) with them.

Message 5 of 5