Closing Cards

[NP27]

Hello,

Does it hurt the AAoA to close a card?  I have a card with a very low limit that I wanted to close, but is one of my older CC tradelines.  I have newer CC with much higher limits.

[alpha0meqa]

Glad you asked, I'm interested in this as well. I was told not to close cards though as it may hurt things....So I don't lol.

[Involver]

Closed accounts will still contribute to your AAoA for 10 years after they are closed, at which point they will drop off.

[Anonymous]

---

@Involver wrote:

Closed accounts will still contribute to your AAoA for 10 years after they are closed, at which point they will drop off.

---

+1 

[Anonymous]

I've closed three this year, and they were my three oldest accounts. Felt good to dump them.

[NP27]

---

@Anonymous wrote:

I've closed three this year, and they were my three oldest accounts. Felt good to dump them.

---

You didnt see any change in scores when you did this?

[Anonymous]

---

@NP27 wrote:

---

@Anonymous wrote:

I've closed three this year, and they were my three oldest accounts. Felt good to dump them.

---

You didnt see any change in scores when you did this?

---

The only way closing a credit card could hurt your score is if it significantly affects your overall utilization.  Otherwise it will have no affect whatsoever.  Here is a good thread that discusses the closing of credit cards:

http://ficoforums.myfico.com/t5/Credit-Cards/Closing-Credit-Cards/m-p/347190?jump=true

[Anonymous]

---

@NP27 wrote:

---

@Anonymous wrote:

I've closed three this year, and they were my three oldest accounts. Felt good to dump them.

---

You didnt see any change in scores when you did this?

---

Nothing outside of the normal few points fluctuations that are inherent to credit scoring.

[NP27]

---

@Anonymous wrote:

---

@NP27 wrote:

---

@Anonymous wrote:

I've closed three this year, and they were my three oldest accounts. Felt good to dump them.

---

You didnt see any change in scores when you did this?

---

The only way closing a credit card could hurt your score is if it significantly affects your overall utilization.  Otherwise it will have no affect whatsoever.  Here is a good thread that discusses the closing of credit cards:

http://ficoforums.myfico.com/t5/Credit-Cards/Closing-Credit-Cards/m-p/347190?jump=true

---

It was a starter.  very low limit.  <1K.

[alpha0meqa]

Thank you to everyone for the useful information!