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joker34

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Canceling a new credit card
I only use about 5% of my total available credit every month. However, my accounts "age" is not very good. I am planning on canceling my newest CC in order to average up.

Good idea?

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Closed accounts stay on your credit for 7 years, so even if you cancel the card, the young age of the card is going to affect your credit exactly the same. However closing your card means lower credit limit which could negatively affect your score. If age of account is the only reason you plan to cancel your card, don't do it as nothing will change.

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