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Closing accounts raises AAoA?

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Anonymous
Not applicable

Closing accounts raises AAoA?

Sorry if this sounds like a newbish question. But I have never really researched how it works.

 

Say, for example, I have 3 accounts.

Two are 5 years old and one is 1 year old.

If I was to close the 1 year account would my AAoA raise back up to 5 years?

The only reason I ask is I have read accounts stay on your report for 10 years, so even if it is closed does it still affect AAoA?

Message 1 of 4
3 REPLIES 3
Kirmie2010
Established Contributor

Re: Closing accounts raises AAoA?

If you close the 1 year old account your AAOA does not change.  The closed 1 year old account will report for 10 (or so) more years.

 

The only way a closed account effects AAOA is that it helps increase it for 10 years after its been closed.  (no negatives from it, the only negative would be from the new account being created and dragging the AAOA down at that point.  But not from closing Smiley Happy
*edit*
To be super clear Smiley Very Happy  Closing the card will not give back the AAOA you had before it was open.

Message 2 of 4
takeshi74
Senior Contributor

Re: Closing accounts raises AAoA?

This thread is linked in the Helpful Threads sticky in the Credit Cards subforum:

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

Message 3 of 4
Anonymous
Not applicable

Re: Closing accounts raises AAoA?

@japakar 

 

Thank you for clearing this up for me!

Message 4 of 4
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