Closing a Credit Card you Have had the Longest Won’t Lower Your FICO Score
When you close the credit-card account that you’ve had the longest, it will lower the average age of your credit accounts and drag down your FICO Score.
If you answered false — you’re right!
It’s true that the age of your accounts is included in your credit score on your credit report and that the existence of older accounts has a positive effect. But even after you close a credit account, it continues to be included in the age calculation.
Your FICO Score could drop, however, if closing the account boosts your credit utilization ratio. And if you open a new credit card, the average age of your credit accounts could drop.