RIP Amex BCE and Citi Diamond Preferred!

[baller4life]

Thanks Finstar. I don't have time for stragglers. AARP and Penfed Platinum Cash with take their place just fine!

[longtimelurker]

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@Revelate wrote:

Other than for those churning I would suggest that evaluating a card on a one year time horizon doesn't a good plan make.

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Yes, I agree.  One year is far too long.

Oh, you didn't mean that!

[CreditCuriosity]

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@baller4life wrote:
Thanks Finstar. I don't have time from stragglers. AARP and Penfed Platinum Cash with take their place just fine!

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So no CSP to pair with the Freedom in the future?

[baller4life]

When my 2 yr jail term is up, I'll think about it. LOL. I have WAY more than 5 new accounts right now.

[taxi818]

Im too new at my fico to understand the impact of closing so many accounts. Does it help in AAoA. or just give peace of mind?. I do have some cards i will not use so much. but i hate to hurt my already fragile fico score. Good for you baller. getting rid of things not needed. I need to read some more on the actual impact. not my oldest. i will keep that which is a cap one secure card. but. middle of the road cards. is where im not sure.

[baller4life]

Well taxi I only closed two so it wasn't like a gang of them. Lol. The only impact is utilization. Which in my case won't be any affect. My total credit will go from $219k down to $216k. So, I'm good. They will remain on my reports for the next 10 yrs and still count towards AAOA.

[CreditCuriosity]

Well technoically to be clear it doesn't add to your AAoA for 10 years say a card is open for 9 months that nine months will report for 10 years, not age for 10 years, if that makes sense.  So 2 years from now it will still be a 9 month old account for another 8 year and so on.. Age doesn't grow.

[baller4life]

But of course CC. I'm assuming everyone knows that. It's not aging cause it will be closed.

[CreditCuriosity]

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@baller4life wrote:
But of course CC. I'm assuming everyone knows that. It's not aging cause it will be closed.

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Never assume or at least I don't, just wanted to make sure people understood so they don't go closing 5 accounts or what not and think they will continue to age

[Anonymous]

@Baller..you said bye bye to Diamond preferred and I said hello!