topic Re: Closing a Card in Understanding FICO® Scoring

Closing a Card

Anonymous — Wed, 13 Jun 2018 21:57:40 GMT

Hello,

So I have a question regarding closing credit cards you're not using. I know they say not to close your oldest card because it changes your average length of credit history. I have two cards, my Williams Sonoma and Express card, that I don't use very much and I would really just like to get rid of them. They aren't my oldest cards and I've really only had them for about 9+ months. Will my score still take a dip?

Re: Closing a Card

Anonymous — Wed, 13 Jun 2018 21:59:37 GMT

No, your score will not drop due to closing those cards. If they aren't of use to you, close them on down. Your age of accounts factors are not impacted by the closing of accounts, as closed accounts remain on your CR for ~10 years and continue to be factored into your age of accounts for that entire time.

Re: Closing a Card

HeavenOhio — Wed, 13 Jun 2018 22:23:45 GMT

Even in the unlikely event that these cards were to drop off your report well before you expected them to, 9-month-old cards aren't a big deal.

Re: Closing a Card

Anonymous — Thu, 14 Jun 2018 14:46:35 GMT

And if you are curious about how to improve your scores in general, let us know and we can help with that too.