Re: Closing Aged Accounts.. Yes It Is Ok
02-28-2008 10:22 PM
Tuscani wrote:[...]Lets recap... In the short term, the only harm by closing a revolving account is due to the utilization percentage you lose, while over the long term, a closed account will be removed from your credit file after 10 years, which could lower your score due to the loss of history.
Interesting conclusion, especially given the title. Someone reading the title might believe that it is a good idea to close an account. Yet, the conclusion reached is diametrically opposite.
May I suggest changing the title of the thread?