@Anonymous wrote:
@Anonymous wrote:
@Brian_Earl_Spilner wrote:The issue is, if the next oldest card is 1yr old, when they do drop off, you'll take a 4yrs hit to AAoA. Normally not a big deal as that 1yr old card is now 11, but for credit seekers like on these forums, it can be a huge problem.
Unless I missed it, I don't believe the OP provided enough information to make that determination. AAoA is a function of all accounts on one's CR. It would be impossible to determine the AAoA drop associated with 2 old accounts falling off unless you knew how many accounts were being factored into that AAoA. The more accounts present on the CR, the less impact to AAoA from old accounts falling off of course.
Indeed. I have a 7 year old Capital One card that I have been refusing to close on the basis of its age (my next oldest card is 3 years old) but the truth is that in 10 years I'll have the age of all the accounts I have added since factoring into my AAoA as well. With the thickness of my file right now, each account I add only brings my AAoA down by one month and I'm a month away from three years AAoA again. I'm not convinced that losing that Capital One account would hurt me much with all the 26 accounts I opened after it added in, 18 of which are still open, because all the open accounts will age to ten years too.
There's no guarantee that an account will stay in your reports for 10 years after closing. I had 5 closed accounts cut by EQ once, none of which had been closed more than 1 year.
