Re: Closing Aged Accounts.. Yes It Is Ok
12-13-2012 08:09 AM
CultivatingCredit wrote:CultivatingCredit wrote:
I am getting the picture of this thread. Longer the accounts the better, drop off after 10 years once closed, and continue to count toward your average length EVEN after closed. I am still new to much of this an my oldest is only 3 years. Simple question but if I leave cards open those aren't taken off after 10 right?
Right. It's not uncommon for those with older mortgages to have a length of credit history of 20-30-40 years.
Not just mortgages but revolving credit cards?
Correct. You leave the account open, it will report until you close it or die (or if they close it)