Does anyone know if only "open" revolving accounts are figured into the "average age of accounts"? I have a couple older (sub prime) cards I'd like to close but am kind of wary because of the average age issue. They are LOW cl's so not worried about the closing affecting my available credit. On the flip side, Household is reporting a card I did not open nor accept, but since it does show closed do you think it's hurting me IF they average in closed accounts as well?
I'm not sure about your original question, but I'm planning to dispute most of my closed accounts, all of which are positive. I've read that since the CRA's are so perverse, they're usually glad to delete anything positive...
Why are you disputing closed positive accounts? Does anyone know about how they average the age of accounts? Closed, open, both or what?
I would dispute closed positive accounts because of a widely held view that average age of accounts includes closed accounts, and that once they're closed they don't get any older. This would retard the normal increase in average age over time. When my other accounts are 5 years old, I don't want a bunch of closed 2 year old accounts diluting my average age.
Ah, that makes total sense. So if I close my subprime cards, albeit oldest of all revolving, until my new cards out-age them, then dispute the old subprime ones off? Do I get it? That was definitely my question, it wouldn't hurt me to close them if they too were averaged into the age. Thanks!
Rich, I was reading another thread (about amex plat) and saw where you as recently as a year ago had a lot of subprime cards, that I am assuming you closed. If you did, did your score tank? Wolverine posted in "thinning out the herd" that closing his oldest subprime cards tanked his score. I'm confused!
