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Credit SCore after cancelling oldest credit card

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Anonymous
Not applicable

Credit SCore after cancelling oldest credit card

I have a relationship with AmEx for 26 years.  Of which, I have been using a platinum cash rebate card for the last 16 years (The program is no longer offered by AmEx).  I want to switch to an AmEx Blue Cash.  The AmEx rep said that I had to apply a new card and cancelled my existing one.  Given that the AmEx card is the earliest credit card that I have, would that affect my credit score if I cancel it even if I have another AmEx card?  Does the credit score calculation depend on the length of the relationship with the credit card company or the specific account?

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Anonymous
Not applicable

Re: Credit SCore after cancelling oldest credit card

As long as it is cancelled with no balance you will be ok.

 

It will still remain and factor into your AAoA for up to 10 years from the date closed.

 

You will lose the CL being factored into your utilization, if there is a CL associated with it.

Message 2 of 3
pizzadude
Credit Mentor

Re: Credit SCore after cancelling oldest credit card

+1 to the comments from guiness ~ also since this is an AMEX card, any new account you open will be backdated 26yrs on your credit reports, which should help your Average Age of Accounts ( AAoA ).

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
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