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Hi everyone....Can someone tell me if ill have a negative or positive outcome if I close Cap1 secures and Credit One:
10 revolving accounts. 2 year, 6 mo avg.
Cap1 is 14 months
Credit one is 10 months.
will my average go up if I close these??? Also, I don't use them any longer, both in good standing, both have fees. Obviously. Any advice is welcomed.
What is currently your newest revolving account and your oldest?
-AK
Closing accounts has no effect on AAoA for Fico Purposes as both closed and open are used in the calcs. Closed accounts remain onfile for up to 10 years post close.
Oldest is Discover - 10 years
Youngest - PPMC 2 months
my average right now is just under 3 years, a lot of new accounts in past 12 months (not smart, I know). I figured since their young, if I drop them, my average would go up???
The answer I was looking for, thank you.