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astateofblank wrote:
When does a new CC not (substantially) hurt your average age? I can see if you've got one CC with a 10 year history, a new one would drop it to 5 years.
If you've got 3 CC's with 5 year history, a new one will drop it to 3.75...or in other words, not very much.
But in my case, I've got 1 CC with a 10 month history, and the brand new BoA AmEx. So I'm averaging 5 months length...and a 3rd one would drop me to about 2-3 months. I wouldn't feel right applying for another CC so soon, and I'm wanting to consolidate some loans soon, so I'm wary of doing anything at all that even *might* hurt my score
astateofblank wrote:I'm wanting to consolidate some loans soon, so I'm wary of doing anything at all that even *might* hurt my score
astateofblank wrote:
I'm hoping within 6 months or so. I've realized that my score isn't going to go up much after I get my util to < 10%, so I may even be reapplying for the loan in about a month. A lower rate is a lower rate, and refinancing it at this point even with just a 710 will get me a much better rate than I have now.
The only other thing I can do is let accounts age, and I might as well not be paying 1-2% extra while I wait for that to happen.