Author Topic: Average Credit History (age)  (Read 3106 times)

Offline txtmax4

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Average Credit History (age)
« on: December 23, 2009, 02:01:26 PM »
If I have, say, a credit card that's 5 years old, making the average age of my credit 5 yrs. and i open a second credit card now, the average age of my credit will drop to 2.5 yrs.
Now the question...
If I were to close that new card a few months after having opened it, leaving me with just my original 5 yr old card, would the age of my credit go back up to 5 yrs?
Please answer if you know this.
THANKS!

P.S. I know that credit age is one of the main factors when it comes to FICO scoring.
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Offline mancunian

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Re: Average Credit History (age)
« Reply #1 on: December 24, 2009, 01:25:31 AM »
if you only have 1 card thats 5 years old you should open a few more soon - even though it will hurt your credit in the short run, the longer you wait you'll be stuck with just that one. five years from now you'll have 10 cards at least with an average history of 5 years. you planning on having one card forever? just my opinion

and as far as i remember its like 10% of your score

Offline txtmax4

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Re: Average Credit History (age)
« Reply #2 on: December 24, 2009, 02:23:35 AM »
Mancunian:
Thanks for being such a "wise pants" and answering questions that I haven't even raised.
I personally have 17 credit cards, my question was HYPOTHETICAL.
I wanted to know what would TECHNICALLY happen if someone closes a relatively new card, if the credit age goes back up or not.
Once again thanks for your input and unnecesary comments and advice.
Anyone that knows the answer to my original question: please answer and comment all you want!
Thank you!
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Offline steve2

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Re: Average Credit History (age)
« Reply #3 on: December 24, 2009, 11:43:06 AM »
Mancunian:
Thanks for being such a "wise pants" and answering questions that I haven't even raised.
I personally have 17 credit cards, my question was HYPOTHETICAL.
I wanted to know what would TECHNICALLY happen if someone closes a relatively new card, if the credit age goes back up or not.
Once again thanks for your input and unnecesary comments and advice.
Anyone that knows the answer to my original question: please answer and comment all you want!
Thank you!

 A thumbs down to You

 I read your post and also it seemed you had but 1 CC and didnt think anything about it was Hypothetical

 You are the 1 that should have spelled out exactly what was what , instead of Attacking someone who was decent enough and kind enough to try and help You.maybe from Mancunian you can learn what Decency and Being Kind is all about as its obvious to me at least that you are so LACKING when it comes to both of them

Offline txtmax4

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Re: Average Credit History (age)
« Reply #4 on: December 24, 2009, 01:37:20 PM »
steve: read the 4th word on my original post
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Offline Dan

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Re: Average Credit History (age)
« Reply #5 on: December 24, 2009, 01:43:52 PM »
Let's keep it civil folks...
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline steve2

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Re: Average Credit History (age)
« Reply #6 on: December 24, 2009, 02:00:46 PM »
steve: read the 4th word on my original post

 I did and I will be honest had you not had your post attcking mancurian I still wouldnt have picked it that it was a hypo

 Now I know full well Im not to talk about the way a post is made, Ive had many where I knew what I wanted to say and point out , yet it didnt come across that way to anyone who read it. But at least I dont recall having attacked anyone because of it

 I do try to make sure when Im on a Fishing expedition to let everyone know its exactly that w/o any doubts. Unfortunately both man and I didnt pick up on that, who knows how many others as well.

 Now a major problem with this Site is after x amount of time the 'Modify' button is no longer available and the post must stand as is. On FT eg, I can log on now and still Edit a post of my from when I joined Ft back in 11/99.

Offline txtmax4

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Re: Average Credit History (age)
« Reply #7 on: December 26, 2009, 11:12:57 PM »
you actually don't even have to get to the 4th word in my post, its sufficient to read the VERY FIRST word "IF". the word IF is pretty hypotethical according to my book.
anyways, whether it was a hypo or not, I wouldn't be so upster if AT LEAST he answered the question for which I created the post in the first place, and only after that give his two cents of advice.
the fact is, however, that he didn't even answer my question altogether, and that's actually a major problem in a lot of the posts in this forum, people post about a certain question or topic and the thread get carried away to a different topic altogether and the question remains unanswered.
BLAH! Anyways, Anyone have an answer to the original question here?
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Offline steve2

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Re: Average Credit History (age)
« Reply #8 on: December 26, 2009, 11:18:22 PM »
you actually don't even have to get to the 4th word in my post, its sufficient to read the VERY FIRST word "IF". the word IF is pretty hypotethical according to my book.
anyways, whether it was a hypo or not, I wouldn't be so upster if AT LEAST he answered the question for which I created the post in the first place, and only after that give his two cents of advice.
the fact is, however, that he didn't even answer my question altogether, and that's actually a major problem in a lot of the posts in this forum, people post about a certain question or topic and the thread get carried away to a different topic altogether and the question remains unanswered.
BLAH! Anyways, Anyone have an answer to the original question here?


 Why should anyone bother answering You after all according to You its 'Not a real question' . Why do I say that well you started you so called Real Question with "If". Well you just posted that a question that starts with "If' isnt a real question or statement, so which way is it? why should we have taken the 1st 'If' as not being real, yet have taken the 2nd 'If' to be in fact the real question?

Offline txtmax4

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Re: Average Credit History (age)
« Reply #9 on: December 26, 2009, 11:24:00 PM »
steve:
a hypothetical question is a real question as well.
think about that...
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Offline flyer11204

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Re: Average Credit History (age)
« Reply #10 on: December 26, 2009, 11:25:52 PM »
babies

Offline steve2

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Re: Average Credit History (age)
« Reply #11 on: December 26, 2009, 11:58:09 PM »
steve:
a hypothetical question is a real question as well.
think about that...

 in that case then both are real so why did you attack man , if he answered what he saw as a real question and you now just said is a real question

 seems you cant even even get what you post straight so how can any of us?
« Last Edit: December 27, 2009, 12:02:37 AM by steve2 »