topic Re: Credit score in Credit score

Credit score

David0108 — Fri, 20 Nov 2020 01:38:03 GMT

Will closing new accounts increase the age of my credit, increasing my credit score ?

Re: Credit score

M-MTax — Fri, 20 Nov 2020 02:50:56 GMT

They go by the date you first established credit so it won't help

Re: Credit score

Opus 17 — Mon, 23 Nov 2020 17:07:19 GMT

Credit bureaus report both your oldest account and the average age of your accounts. Closing your youngest accounts will raise the average age of your remaining accounts, and may slightly increase your score. However, since it will also reduce your available credit (your total borrowing ability) that will tend to lower your score. I can't guess whether it will ultimately turn out in your favor.