If you close an old card do you lose it towards your length of time with credit?

[Sixburgh79]

Or does it stay locked in?

Many years back my first card back was a credit one card and it has an 8 dollar a month fee, just stupid. But I have so many good cards now I obviously Don't need it but I don't want to lose the time I've had it established.

Cut it loose and not worry about it anymore?

[Anonymous]

Id close it out. No point paying a monthly fee on a card you dont use. 

Any score drop from a length of credit adjustment would be minimal (if at all)

[Anonymous]

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@Anonymous wrote:

Id close it out. No point paying a monthly fee on a card you dont use. 

Any score drop from a length of credit adjustment would be minimal (if at all)

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+1  I wouldn't want to pay a monthly fee on a card that is not useful to me. Also, the closed account will contribute to your AAOA up to 10 years. At that point, you may lose points, but the amount may be minimal. 

As an example,  three old accounts fell off my reports this months on TU. I went from 706 to 701. The same accounts fell off Ex with no score change. And maybe decreased 1 or 2 points on EQ. But YMMV. Everyone's profile is different. 

[KLEXH25]

It will still count towards your aging for up to the next 10 years or so. How long after this card did you open your next card? Once the old card drops off, your next card will become your AoOA. If the difference is only a few months to a couple of years there shouldn’t be a huge hit. If you’re like me and have an almost 17 year span difference between the two, it will hurt lol.

[CerebralZulu]

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@KLEXH25 wrote:
It will still count towards your aging for up to the next 10 years or so. How long after this card did you open your next card? Once the old card drops off, your next card will become your AoOA. If the difference is only a few months to a couple of years there shouldn’t be a huge hit. If you’re like me and have an almost 17 year span difference between the two, it will hurt lol.

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This question always intrigues me. So even if there is a 17 year span between your oldest and say the new card is one year old, when the old card falls off your new card would be 11 years old at that point. Is the 10 years for AAoA and AoOA? 

[longtimelurker]

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@KLEXH25 wrote:
It will still count towards your aging for up to the next 10 years or so. How long after this card did you open your next card? Once the old card drops off, your next card will become your AoOA. If the difference is only a few months to a couple of years there shouldn’t be a huge hit. If you’re like me and have an almost 17 year span difference between the two, it will hurt lol.

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Even if hurts (and the impact depends on how many other cards you have and their age), it's probably STILL not worth paying some dollars each month!

[pinkandgrey]

I close any cards I don’t want, regardless off AAoA. However, the card will factor into your average age for many years.

[Sixburgh79]

So when it's closed will it still then count got 10 years at that moment? And yea gonna close it

[HeavenOhio]

It's Credit One. Dump it. Enough said.

[SouthJamaica]

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@Sixburgh79 wrote:
Or does it stay locked in?

Many years back my first card back was a credit one card and it has an 8 dollar a month fee, just stupid. But I have so many good cards now I obviously Don't need it but I don't want to lose the time I've had it established.

Cut it loose and not worry about it anymore?

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It will stay on your report long after it's closed, often as much as 10 years. But when it ultimately drops off, it will affect your 'age' factors.

But you certainly shouldn't be paying a fee.

Before closing it, I would call them, tell them you're thinking of closing it, and see if they offer to waive the fee or upgrade the card to a better offering.