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JustinRE

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Will Closing Young, Unused Accounts Help My Credit?
I have a young credit age due to many accounts I have opened. If I close the younger accounts, will my average account age go up and thus increase my credit (assuming I kept my utilization the same and all other things being equal)?

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Short answer is NO. Longer answer would be "most likely" no, due to different scoring models... In FICO scoring models, it uses both open and closed accounts into average agd of credit, closed accounts in good standing can last unto 10 years on your credit reports, so in FICO score models your average age/age of credit won't change for next 10 years or until whenever it falls off.

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Reply by
JohnnyRain127

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And... all things wouldn't be equal. You would have less accounts/trade lines, less overal available credit, less possible accounts to be report with zero balances.

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I suggest you take the time to read the articles on this site so you can learn how credit works.  Closing credit cards is generally not wise.  They age over time, just as we do.  I have learned a lot here and now have an excellent score because of what I learned.

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