If your average age of accounts in 6 years is under 6, then closing the accounts today will HURT your score in 6 years, not help it.bewiseman wrote: ↑Nov 7th, 2016 5:06 pmBased on my own personal experience, closing any card that is younger than your oldest card, will actually help your score over the long run especially if the credit limit is lower and as a result you're maintaining a higher utilization ratio on that individual card by keeping it open and using it. Furthermore, closing a younger card will increase the average age of your credit profile when that account falls off your report 6 years later. Don't close your oldest account unless maintaining it requires you to pay an expensive annual membership fee.leafs123 wrote: ↑Nov 7th, 2016 4:58 pmI started churning heavily in around May. My question is, if I cancel 5ish cards in the next month or two, how will this affect my credit score? Keep in mind, I will keep my utilization down, under 10%, as I am not a big spender. Additionally, all those canceled will be after 6 months of having the cards.
( I just closed 4 younger accounts. My utilization has INCREASED, but my score has also INCREASED. )
If he keeps churning then likely his average age will keep coming down. Better to keep cards forever
And if you close $0-balance churned unused cards that have no utilization I can't see it helping your score in any way.