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Question By
katcowgirl

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IF I CLOSE ACCOUNT HOW DOES THAT CHANGE MY CREDIT

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Helpful to 10 out of 10 people

 It may or may not actually drop your score or your credit age if it is an older account. If you are looking to buy something big soonish I might not close it. But if fees ect are a concern I might. If you are still looking at building your score up, get another/better card with a higher limit and or better fees or interst to replace the one you may close. I did that and closing my older account still ended up raising my score instead of dropping it. It would build back up again anyways but this was faster. If you arent concerned about scores and new purchaces in the short term then it shouldnt affect you much.

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Closing an old Credit Card

Helpful to 3 out of 5 people

Why dose closing an old credit card cost me points on my Credit score.

Why does length of credit have an effect on the socre. If I cancel an old cc my score goes down, if I get a new better card my score goes down. All based on lenght of how long I've had credit. I'm 74 YO I've had credit for over 50 years, why does 3 years make a difference.

ALL BOGUS

Reply by
Systemwalker27

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All a system man..We are stuck in it and we are the ones who continue to allow this bogus bs to go on. Ppl need to wake up..

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