Closing oldest account

Anonymous · ‎07-18-2017

So my oldest account is a student loan that has been opened since 09/2011 followed by my first credit card opened in 11/2012. I have two BofA accounts 11/2012 (3.4K) and 07/2015 (9.1K). I reallocated the 3.4K (2012) into the 9.1K (2015) account and closed it today. After hanging up, I realized I should've down the opposite. Life lesson I tell ya. Anyways, it shouldn't matter in retrospect because I finally fulfilled the chase trifecta goal that I had for years, but this mistake was completely unavoidable.

How bad is this going to affect me. I know it will stay on my report for 10 years and by that time it won't even matter anymore lol, but I want to brace myself.

Anonymous · ‎07-18-2017

If you reallocated the limit, there will be no issues. That card will age another ten years, and so will your current ones. It must have had a 0 balance I assume.

Anonymous · ‎07-18-2017

This change will not impact your scores today, nor will it impact your scores 10 years from now.

Anonymous · ‎07-18-2017

@Anonymous wrote:
If you reallocated the limit, there will be no issues. That card will age another ten years, and so will your current ones. It must have had a 0 balance I assume.

Okay sweet. I was just paranoid that since I reallocated the limit from the oldest card into the most recent one and then closing my oldest card, that my AAoA would be affected. Yes, it has been reporting a balance of 0 for almost a year.

Anonymous · ‎07-18-2017

@Anonymous wrote:
This change will not impact your scores today, nor will it impact your scores 10 years from now.

Okay cool, thank you!

Just a little worried my AAoA will decrease since I closed my oldest credit card.

HeavenOhio · ‎07-18-2017

Closed accounts still count toward your AAoA. By the time the closed card drops from your report, your current cards will have made up the difference.

Anonymous · ‎07-18-2017

@HeavenOhio wrote:
Closed accounts still count toward your AAoA. By the time the closed card drops from your report, your current cards will have made up the difference.

Excellent! Thank you.

Anonymous · ‎07-19-2017

I may be the only person who is a little confused, but I'll ask anyway. The subject of the thread is Closing oldest account. The OP indicates that his student loan is his oldest account. After reading through his post, it looks like whatever account he closed is not the SL. So his oldest account was not in fact closed?

Anonymous · ‎07-19-2017

@Anonymous wrote:
I may be the only person who is a little confused, but I'll ask anyway. The subject of the thread is Closing oldest account. The OP indicates that his student loan is his oldest account. After reading through his post, it looks like whatever account he closed is not the SL. So his oldest account was not in fact closed?

I assume he meant oldest credit card.

Anonymous · ‎07-19-2017

@Anonymous wrote:
I may be the only person who is a little confused, but I'll ask anyway. The subject of the thread is Closing oldest account. The OP indicates that his student loan is his oldest account. After reading through his post, it looks like whatever account he closed is not the SL. So his oldest account was not in fact closed?

My apologies, I should've been more clear. My oldest account is my student loan but I was refering to closing my oldest credit card.