Don't Close Old Credit Card Accounts
Guest: Perfectcredit
Post subject: Don't Close Old Credit Card Accounts
Posted: Thu Aug 17, 2006 10:42 am
Quote:
Closing old accounts isn't a good idea because it reduces the average age of your accounts, making your score lower, making Chase ratejack you.
I closed my Macy's account which was my oldest account and it knocked off only 10 points across all my scores. I rather close and unused account than leave it vunerable to identity theft.
_________________
Wellsfargo Platinum Visa - $2500, Bank of America Platinum Visa - $600, Amex Blue - $6600, Citi Select Dividen Platinum - $3000
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: wierdo
Posted: Thu Aug 17, 2006 9:50 pm
Perfectcredit wrote:
I closed my Macy's account which was my oldest account and it knocked off only 10 points across all my scores. I rather close and unused account than leave it vunerable to identity theft.
How much older was that than your other old accounts?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: bullwinkle29
Credit Expert (100+ Posts)
Posted: Wed Aug 30, 2006 7:18 pm
Perfectcredit wrote:
Quote:
Closing old accounts isn't a good idea because it reduces the average age of your accounts, making your score lower, making Chase ratejack you.
I closed my Macy's account which was my oldest account and it knocked off only 10 points across all my scores. I rather close and unused account than leave it vunerable to identity theft.
how can some use it, if you never use it? does really matter anyways, since your not liable for un-authorized use?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: bullwinkle29
Credit Expert (100+ Posts)
Posted: Wed Aug 30, 2006 7:19 pm
Perfectcredit wrote:
Quote:
Closing old accounts isn't a good idea because it reduces the average age of your accounts, making your score lower, making Chase ratejack you.
I closed my Macy's account which was my oldest account and it knocked off only 10 points across all my scores. I rather close and unused account than leave it vunerable to identity theft.
how can some use it, if you never use it? does really matter anyways, since your not liable for un-authorized use?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Post subject: Don't Close Old Credit Card Accounts
Posted: Thu Aug 17, 2006 10:42 am
Quote:
Closing old accounts isn't a good idea because it reduces the average age of your accounts, making your score lower, making Chase ratejack you.
I closed my Macy's account which was my oldest account and it knocked off only 10 points across all my scores. I rather close and unused account than leave it vunerable to identity theft.
_________________
Wellsfargo Platinum Visa - $2500, Bank of America Platinum Visa - $600, Amex Blue - $6600, Citi Select Dividen Platinum - $3000
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: wierdo
Posted: Thu Aug 17, 2006 9:50 pm
Perfectcredit wrote:
I closed my Macy's account which was my oldest account and it knocked off only 10 points across all my scores. I rather close and unused account than leave it vunerable to identity theft.
How much older was that than your other old accounts?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: bullwinkle29
Credit Expert (100+ Posts)
Posted: Wed Aug 30, 2006 7:18 pm
Perfectcredit wrote:
Quote:
Closing old accounts isn't a good idea because it reduces the average age of your accounts, making your score lower, making Chase ratejack you.
I closed my Macy's account which was my oldest account and it knocked off only 10 points across all my scores. I rather close and unused account than leave it vunerable to identity theft.
how can some use it, if you never use it? does really matter anyways, since your not liable for un-authorized use?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: bullwinkle29
Credit Expert (100+ Posts)
Posted: Wed Aug 30, 2006 7:19 pm
Perfectcredit wrote:
Quote:
Closing old accounts isn't a good idea because it reduces the average age of your accounts, making your score lower, making Chase ratejack you.
I closed my Macy's account which was my oldest account and it knocked off only 10 points across all my scores. I rather close and unused account than leave it vunerable to identity theft.
how can some use it, if you never use it? does really matter anyways, since your not liable for un-authorized use?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 1:41 PM
0 Comments:
Post a Comment
<< Home