Re: Closing Accounts[ Edited ]
05-22-2010 08:15 PM - edited 05-22-2010 08:16 PM
Once an account is posted to your CR, its subequent status as open or closed has no effect on inclusion of its aging from the opening date, and thus makes no difference in your AAoA calcuation. Closing an account is not the same as deletion of the account from your credit file. FICO continues to score its age until such time as the entire account is deleted from your credit file, which is normally not until at least 10 years from the date of account closing. By not closing it, you can possibly keep the increasing benefit of its account aging in your CR for many years to com by delaying its closing..
The only substantial reason to close an account in good standing is to avoid payment of annual fees. That is strictly an indiv. choice, based on financial, and not FICO. considerations