AAoA Question...

[Gibran]

I've had my Cap One card since 2009, in Oct it will actually be the 4 year mark, I recently went on a spree and opened 4 new accounts last week, I really want to close my Cap One account because it still has the same $500 cl, along with that a $39 AF, they're denied me 2 attempts at a CLI, even after speaking with someone at the exec office, how will my AAoA be affected by closing it since it is one my oldest accounts here's a breakdown of when all my accounts were opened

CapOne Mastercard Oct-09

Kay Oct-09

American Express Delta Platinum Mar-10

Best Buy Rewards Zone Mastercard Apr-10

CFE Visa Apr-10

American Express Zync Jun-10

American Express Platinum Aug-10

Travelocity Amex Dec-10

CapOne No Hassle Mastercard Oct-11 

Chase Marriott Rewards Visa Aug-13

Citi Hilton Hhonors Reserve Visa Aug-13

Discover IT Aug-13

BankAmericard Travel Rewards Visa Aug-13  

 Will I take a big hit by closing my Cap One account?

[FinStar]

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@Gibran wrote:

I've had my Cap One card since 2009, in Oct it will actually be the 4 year mark, I recently went on a spree and opened 4 new accounts last week, I really want to close my Cap One account because it still has the same $500 cl, along with that a $39 AF, they're denied me 2 attempts at a CLI, even after speaking with someone at the exec office, how will my AAoA be affected by closing it since it is one my oldest accounts here's a breakdown of when all my accounts were opened

CapOne Mastercard Oct-09

Kay Oct-09

American Express Delta Platinum Mar-10

Best Buy Rewards Zone Mastercard Apr-10

CFE Visa Apr-10

American Express Zync Jun-10

American Express Platinum Aug-10

Travelocity Amex Dec-10

CapOne No Hassle Mastercard Oct-11 

Chase Marriott Rewards Visa Aug-13

Citi Hilton Hhonors Reserve Visa Aug-13

Discover IT Aug-13

BankAmericard Travel Rewards Visa Aug-13  

 Will I take a big hit by closing my Cap One account?

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IMO - no major AAoA hit.  More like a pebble being tossed onto a battleship.  The loss of the $500 CL would not impact your overall utilization.  If you decide to close it, and as long as it's in good standing, the account should stay on your CR's for up to 10 years (or longer).

[09Lexie]

Closed accounts are still counted in your AAOA as long as they remain on your CR's. closed accounts may stay up to 10 yrs on your CR's

[FinStar]

Of course, the real AAoA hit that will take its toll would be from the recent opening of those new CCs.

[myjourney]

Closing cards does not affect AAoA until the account falls off of CR..Likely 10 years

The only thing it effects immediately is UTL

The opening of the new accounts will effect AAoA immediately as well

[mikey78]

I opened 3 new cards and BOOM im down to 4.6 years
i was over 5 can't wait till my 3 closed cards drops off the CR

[knoregs]

+1

AAoA before four new tradelines this month ==== 37 months or 3 years, 1 month

AAoA after four new tradelines this month ===== 26 months or 2 years, 2 months

~kn

[Gibran]

Losing a full year of age defnitely isn't good

[09Lexie]

That's what Amex is for..fixing those little AAOA issues.

[Gibran]

Thought about it and I think I'm gonna go ahead axe Cap One, take the immediate hit, but I'll let my new cards age and I don't plan on opening any new accounts for a while. I don't want to pay not one more cent of an AF to them.