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pureoxygen

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consolidating credit lines chase freedom and chase amazon, both opened dec 2012.
I have 2 chase credit cards, freedom and amazon rewards that were both opened recently (dec 2012) with both credit limits of 4000.

Looking at credit karma, it considers the average length of open credit cards.

Will it be a good option to transfer my 4000 credit line from my amazon to the freedom card and close the amazon? (Consolidate) I have now no balance on both cards. And they were opened at the same time. My rationale for this is that I will have the same credit line but it will increase my avg length of open accounts.

Am I correct or do you think it would hurt my credit score.

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If the card is relatively new, the imapct of closing the account is very minimal since the "damage" was done once the new card is opened. For instance, you have two credit cards with 3 years credit history of each. So your average life of credit is 3 years. Now you have a new card opened. Then your average life of credit accounts is now 2 years. Several months later you close the new card, your average life of credit will remain 2 years. In another scenario if you close one of the old cards, your average life will be down to 1 year.

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