Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
intheknow49

0 Contributions
0 People Helped
would opening a new credit card account lower my average age of cards and thus my score

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
5038 Contributions
1131 People Helped

I can only speak for true Fico scores, who knows what would happen with the Fako scores.

It depends on how many cards you currently have now. If you currently have 0-1 cards, then you would see an increase in scores. If you currently have 2 cards, then little should change, if you currently have more than 3 then yes you may get dinged.

You are correct about opening new accounts, you get a ding for the inquiry and a ding for average age of accounts, the ding on that would depend on the ages of your other accounts, but as said, if you have no or few lines of revolving credit you actually get rewarded for opening a card.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.