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MarRodz

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How does open/close credit affect your credit score?

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There are several factors at play and impact will depend on one's credit profile -- the impact is not the same for all people.  Opening an account reduces your Average Age of Accounts and you incur a hard pull.  Closing a credit card has an impact on your Revlolving Utilization.  If you only have one installment and you close it then you will impact Credit Mix.

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