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BATTLE: Closing Accounts vs. Average Age of Open Accounts
There are two conflicting metrics in the credit report: the number of accounts you have open (per Credit Karma, your score rises with higher number of open accounts: 21+ = A, 16-21 = B, 11-15 = C, 6-10 D, and 1-5 F. On the other hand, you also get penalized for a low average age of open accounts: +8 yrs = A, 6-8 yrs = B, 4-6 yrs = C, 2-4 yrs = D, and < 2 yrs = F.

So here is my dilemma. I opened several recent credit cards to get free flights and to finance a home renovation. I am considering eliminating these and a couple of other recent credit cards (< 3 yrs old). If I eliminate 5 cards, I could increase the average age of my account from ~4 yrs to ~9 yrs. My total accounts would drop from 21 to 17 (still in the "B" category) but my average account age would rise from "C" to "A". What do you think?

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