closing a newly opened account

Re: closing a newly opened acc

From what I have heard any accounts 0-6 months take points away, 6-12 months they don't help nor hurt and after they reach 12 months you begin to get points for them and you max out your points when your account hits 36 months.

So I would think since it is under 6 months, it has already taken the point hit, so closing it shouldn't help nor hurt.

I hope that makes sense.

Mom

 

Re: closing a newly opened acc

ONLY F.I.C.O. KNOWS FOR SURE...but people have posted that two years (one year minimum) is better to keep an account open before closing it.

Why not just pay it off and don't use it for 1.5 years and then close it (UNLESS IT HAS A MONTHLY FEE...THEN BY ALL MEANS CLOSE IT NOW).