800 FICO Possible? Before 22

[takeshi74]

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@gr33nsuit wrote:

Would cancelling affect my goal of reaching 800? 

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No idea.  Take a look at the closing credit cards thread linked in the Frequently Requested Threads sticky.  tl;dr version is that utilization is impacted immediately on closure and AAoA is impacted 10 years down the road when the account falls off.

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@gr33nsuit wrote:

Additionally, can I transfer the ($5,000) credit limit from the Chase Sapphire to my Chase Freedom before cancelling it? 

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Chase does allow transfers (which would mitigate the impact to utlization) but I don't recall if they'll allow you to transfer the entire CL.

[parakleet]

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@sexy_kitten7 wrote:

The benefits of a high score plateau around 760. I assume you have personal reasons for wanting such a high score.

I'd recommend letting accounts/inq age. Cancelling a card will have no immediate effect on your FICO and will actually hurt your AAoA starting 10 years from the closing date.

Please be aware of the "opportunity costs" associated with this persuit: no new accounts means no new bonuses or loans or perks.

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+1

[Shogun]

I sure hope you try to!!!!  You're doing great!