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SonicBlueMustang02

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Cancelling one card and increasing credit line on another.
I have had a card for over 2 years that has a limit of $1000. I also have another that has only been open 8 months that has a limit of $1600. I want to cancel the newer card because I never use it and I just don't need a second card. If I cancel the newer card my average age of accounts would increase, so that's good. I'm hoping to increase the limit of my older card to $2000 so if I close the older one my total credit available would drop by $600. My score has gone down a few points over the past few months because I have never used the newer card. I'm wondering how much of a hit I would take if I were to make these changes. I don't want my score to continue to decrease because I don't use the card, but I also do not want to use the card to prevent the decrease. Please let me know how many points I can expect my score to fall by closing the newer card. Thanks.

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Top Contributor
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STOP!!

Cancelling the card will NOT increase the "average age of accounts" because the account will remain on your credit reports for ten years.

Second, having a card and not using it does NOT cause your score to go down.

Third, cancelling the card will hurt your credit as you will be closing an active account.

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Please, slow down and do some extensive reading. Take your time until you have a thorough understanding about how credit works. If you have any questions please feel free to ask, but under no circumstances take any more action until you have a good understanding about all of this. I also advise you to watch your FICO scores and do some reading on how they react to certain actions.

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