topic Re: length of time cards are open in General Credit Topics

length of time cards are open

Anonymous — Fri, 25 Sep 2009 01:33:21 GMT

I have an old Macy's card that was converted to a Citibank card. It has 17 years history. I am trying to pay what I can to lower the balances, but recently it closed my account maybe because manybe I have too many open accounts (3 Cap One 500, 600, and 5000; 1 Citibank, 1 Nordstrom, and 1 nonsecured non-credit card account). The Cap One accounts are my second oldest, but they account have monthly and annual fees.

If I pay off and close the $500 and $600 accounts, then will my credit history shorten and my score lower?

Re: length of time cards are open

Anonymous — Fri, 25 Sep 2009 09:14:48 GMT

I would read the following link before concidering closing the CC. Closing Credit Cards

Welcome to the forums!

Message Edited by guiness56 on 09-25-2009 02:14 AM

Re: length of time cards are open

jackg — Fri, 25 Sep 2009 19:25:02 GMT

Your average age of accounts will be impacted which may lower your FICO score