Don't use Credit Karma scores.
Was your daughter the primary or an AU on the closed card?
Also, if the remaining card has a zero balance, that will trigger the all-zero penalty (at least for a FICO score; dunno about FAKO scores).
When building credit. Opening and closing cards isnt the way to go about it. If you open one. Keep it open. You building a file and a history. Once you get past 5 cards then the "thin" file will go to "thick" file. You'll need at least 3 cards and some type of installment loan to go with FICO's credit mix bonus. First work on building a revolving credit history. We all had to start at the bottom and work our way up. We may not like what we have in the begining as better things come in. But they are doing a world of benefits to growing a credit file. FICO doesnt care about the name on the card nor the credit limit. Its whats reported each month. Get up to 3 cards. Practice AZEO. Then work on a starter loan to get some more credit mix history.
@Anonymous wrote:Quick/brief insight please?
Helping daughter. Procured her a very low tier card. (it reported well). Grew that 7 months. Procured her a Dicover secured. Closed the other card, with zero concern for the age of accounts for 10 years based on everything I have read.
Her Credit Karma (no offense myFICO) score dropped dramatically, and now shows her age is 1 month. The heck?
Credit Karma shows your average age of OPEN accounts.
@Anonymous wrote:So the CRA's and anyone inquiring to her history will see a longer age the CK is showing?
Yes. FICO considers ALL accounts - both open and closed - when calculating age.
