Could I open a card and close it without much score effect?

[Swatch]

There are a couple cc's I want solely for the signup bonus. If I opened the card and closed it 1-3 months later, it shouldn't affect my AoYA once closed, right? I read that the closed accounts won't affect AAoA, so the only affect on my score would be a little bit for the INQ, and the temporary effect while it's still open? 

[dragontears]

---

@Swatch wrote:

There are a couple cc's I want solely for the signup bonus. If I opened the card and closed it 1-3 months later, it shouldn't affect my AoYA once closed, right? I read that the closed accounts won't affect AAoA, so the only affect on my score would be a little bit for the INQ, and the temporary effect while it's still open? 

---

NO

Open or closed all accounts affect AAOA 

Open or closed a new card WILL reset your AoYA

The "damage" a new account does to your score happens when it is reported, closing the card will not change it.

[Anonymous]

When you open the cards, the limits will be added to your overall credit, and depending on the balance they report, it can improve your utilization, giving you a score boost (also depending on your current utilization) Once you close the cards and you lose the available credit, it will impact your utilization. Unless there is a monthly charge to keep them open, i would not close them right away. Sock drawer them, but i would suggest not closing them very quickly. Also, a lot of financial institutions are getting smarter as far as spotting people that will churn credit cards. This may effect your ability to get a card with those companies down the road if there was one that you really wanted to obtain and use for a long time. So my opinion: If you open them, keep them whether you use the cards or not. At least take advantage of the utilization.

[OmarGB9]

---

@Swatch wrote:

There are a couple cc's I want solely for the signup bonus. If I opened the card and closed it 1-3 months later, it shouldn't affect my AoYA once closed, right? I read that the closed accounts won't affect AAoA, so the only affect on my score would be a little bit for the INQ, and the temporary effect while it's still open? 

---

Unfortunately none of that is correct.

Your AoYA WILL be impacted as soon as those new accounts report.

And whatever you read about closed accounts not affecting AAoA was wrong as well. Both open and closed accounts factor into your AAoA. Closed accounts in good standing can remain on your reports up to 10 years, contributing to AAoA the entire time.

[SouthJamaica]

---

@Swatch wrote:

There are a couple cc's I want solely for the signup bonus. If I opened the card and closed it 1-3 months later, it shouldn't affect my AoYA once closed, right? I read that the closed accounts won't affect AAoA, so the only affect on my score would be a little bit for the INQ, and the temporary effect while it's still open? 

---

No, don't do it, for a host of reasons.

1.  Once closed it's still in your report as the youngest account.

2.  Once opened it will lower your average age of accounts as well.

3.  Wherever you read that "closed accounts won't affect AAoA" you were given misinformation. It lowers your AAoA immediately and will continue to lower your AAoA after you've closed it.

4.  You might lose your SUB, banks often claw them back if the account is closed quickly after opening.

5.  You might get blacklisted by the lender.

[Anonymous]

---

@SouthJamaica wrote:

---

@Swatch wrote:

There are a couple cc's I want solely for the signup bonus. If I opened the card and closed it 1-3 months later, it shouldn't affect my AoYA once closed, right? I read that the closed accounts won't affect AAoA, so the only affect on my score would be a little bit for the INQ, and the temporary effect while it's still open? 

---

No, don't do it, for a host of reasons.

1.  Once closed it's still in your report as the youngest account.

2.  Once opened it will lower your average age of accounts as well.

3.  Wherever you read that "closed accounts won't affect AAoA" you were given misinformation. It lowers your AAoA immediately and will continue to lower your AAoA after you've closed it.

4.  You might lose your SUB, banks often claw them back if the account is closed quickly after opening.

5.  You might get blacklisted by the lender.

---

Everything i wanted to say, better worded and explained...!!!

+1