A few years back I got a credit card, ran up a small balance, decided I really didn't like the customer service folks, paid it off, and cancelled the card after only 4 months--all of it positively reported. My question is, does having an account open such a short period of time have a negative effect on my score, even though all the information reported may be positive? I seem to remember somewhere about average time of open accounts being a factor, but I could easily be mistaken. Any guidance on this would be greatly appreciated.
Supposedly the longer an acct. is open, the better it looks and the better your score. If closing an acct., most people like to wait til the acct is at least 1 yr. and some 2 yrs. before closing. If the acct. is now several years old, it probably has little affect on your score now.
