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Too Many, Too Close Together....Smart to close???

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Dmessina666
Frequent Contributor

Too Many, Too Close Together....Smart to close???

So very stupidly, I opened too many accounts too soon. Specifically 2 store accounts, Wayfair and Zales. Both Comenity. 

These accounts are 1-2 months old. I understand I'd take a hit points wise if I just closed them, but on the other hand my Average Age would go up. Do the benefits outweigh the risks if I closed these accounts???


Once I closed them, my average would jump up to 3 1/2 years or so. (My rebuild started 4/2019, and I'm in decent shape. I'm thinking by doing this, it would knock out "You do not have an established credit history" message. 


3% Aggregate, AZEO as of today. 

Fico 8

EX 670

EQ 655

TU 680

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2 REPLIES 2
Remedios
Credit Mentor

Re: Too Many, Too Close Together....Smart to close???

If you close them, your AAoA wont change.

Closed accounts are included into calculations and they dont disappear after closing. 

The only thing that would have immediate effect is if closing somehow affected your utilization. 

Message 2 of 3
RSX
Valued Contributor

Re: Too Many, Too Close Together....Smart to close???

^^ this
Close them after 13 months if you really don't want them.  Or SD them 

 

Dec 16/2019. EX. 721. EQ. 723. TU 746
Jan 25/2024 EX. 774 EQ. 751 TU 758
Inq. EX 2 EQ 3 TU 6 - - CC 2x24, 0x12
Amex BCP $35k - Apple GS $21k - BMW/Elan $19k - Cap1 QS $16.7k - Chase Amazon $13.6k - Chase Bonvoy Bountiful $10k - Chase United Club Infinite $26k - Citi CustomCash $3k - Citi DC $14.5k - CreditUnion1 $9k - DiscoverIT $31.5k - PayBoo - $15.6k - Penfed Gold - $19.3k - USB AltitudeGO -$19k- USBank Cash+ -$25k - PenFed LOC - $20k - USB LOC - $15k
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