@UncleB wrote:
@Anonymous wrote:I did the same thing too and totally regret it. I also didn't consider how it would change my AAoA as much as I should have. Oh well.
It shouldn't have impacted your AAoA for FICO purposes, at least until the closed account stops reporting which can be up to 10 years.
If you're checking the 'FAKO' sites, that's another matter since Vantage is impacted by closed accounts (they are no longer considered for AAoA). Very few lenders use Vantage, however, so you should be fine.
You're right, of course. It was on CK that I saw that, and I didn't process that it doesn't actually matter until reading your post. Thanks!
@UncleB wrote:
@Anonymous wrote:
@TimeLBK wrote:I combined two of my Cap One cards into one a couple of months ago. Tryed to ask for a CLI, but it says, "There has recently been a change to the credit line on this account ". I guess I cannot get a CLI on this card for another 6 months, since they "technically" did not give me a CLI?
I did the same thing too and totally regret it. I also didn't consider how it would change my AAoA as much as I should have. Oh well.
It shouldn't have impacted your AAoA for FICO purposes, at least until the closed account stops reporting which can be up to 10 years.
If you're checking the 'FAKO' sites, that's another matter since Vantage is impacted by closed accounts (they are no longer considered for AAoA). Very few lenders use Vantage, however, so you should be fine.
Plus one. CK is one that factors only open accounts. FICO factors in both open and closed accounts!
Personal:
@taxi818 wrote:Well i thought about combining my cards. then realized i like them just the way they are. I don't need a Giant limit more than what i already have. My biggest of all is 20k. Thanks more than enough to get in trouble.
I think you're in the minority here, but I'm right there with you. I gave thought to combining my 21K and 11K Quicksilver cards, but decided that a 32K card would be excessive for my level of spending. So for now, I've decided to leave the accounts separate. I'll probably close the 11K card (slightly older card with a higher APR) before I'd combine it into the 21K card, but that's just me. 