Re: Closing Aged Accounts.. Yes It Is Ok
06-04-2009 06:56 AM
This revelation is EXTREMELY helpful for when (due to the new credit legislation that was recently approved) the credit card companies start charging annual dues for us good credit users. I was worried about closing accounts that will get too expensive to keep open and the effect of those closures on the "aged" history calculation.
Now if FICO can just figure out how to address the issue of involuntary credit line decreases and the effect on overall utilization that I have no control over.