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Is it really much of an issue if you close your oldest card when your 2nd oldest card is 4 months later and 3rd oldest 7 months later?
Depending on scoring ages, you'll see a score dip for 4 months after it stops reporting. If your AAoA is something like 10 years, I doubt it'll be any more than a blip.
No, you're good. I did that as well. If you don't use the card, shut it down lol
Your actual FICO score shouldn't drop, you will still benefit from that history for 10 years.
If closing the card causes your utilization to spike, you will see a drop.
I'm going to do a little more prying than the other responders.
You have a lot of prime cards, my guess is you'd be fine. Your biggest drop would be a marginal drop on your Vantage 3 scores but most lenders don't really use that.
I don't see it as being a factor unless you have a substantial gap in time between the opening of your oldest revolver and second oldest revolver, which as stated in the original post is not the case.
My AAOA is 5 years and the card in question is the Chase Freedom. I know there's been updates to it but I'm focused on Amex system. This card I didn't apply for it used to be a Chase Amtrak but they closed their partnership and changed me to a Freedom card.
I have a Chase checking account so I can cash those into my checking.
As for my utilization it never goes over 5%
@SkyCommander wrote:Is it really much of an issue if you close your oldest card when your 2nd oldest card is 4 months later and 3rd oldest 7 months later?
Not it's not an issue at all.
@SkyCommander wrote:My AAOA is 5 years and the card in question is the Chase Freedom. I know there's been updates to it but I'm focused on Amex system. This card I didn't apply for it used to be a Chase Amtrak but they closed their partnership and changed me to a Freedom card.
I have a Chase checking account so I can cash those into my checking.
As for my utilization it never goes over 5%
I would not close a card of that quality.