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Posted on 7 May 2017 | 1,931 views

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.


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2 Comments »

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  • Jessica Johnson said:


    Closing a Credit Card you Have had the Longest Won’t Lower Your FICO Score http://t.co/CBgrPnYt

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