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brandnew554

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Closing NEW credit card accounts
OK. I'll keep it short and sweet :) I have like 3 credit card accounts that are less than 2 years old. My length of history is taking a hit because of this. I have low utilization, and within the closure of these accounts it would still be below 20%. Question is: If I close these accounts would it have an immediate affect on my length of history?

I guess a better way to pose the question is does length of history calculate only open credit limits or does it calculate closed ones as well?

Thank you!!!!

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Length of history counts both open and closed accounts.  Your score will take an immediate drop if you close the accounts.  Instead of closing them, just put them aside and use once a year to keep alive.  That way they will build your credit score.  

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