Closing Accounts - Impact on Credit Score
I'm about to close down a BMO Credit card that I have not used in forever as I no longer deal with them at all. The credit account is a Mastercard and originally opened in 2001. It's the longest serving card I have on my profile. I have other cards with the following issue dates as well:
- HBC Capital One (June. 2012)
- Amex Cobalt (Sept. 2017)
- TD CB Visa (Feb. 2019)
- TD ICB Visa (Aug. 2013)
- TD Unsecured LOC (Jun. 2014)
- Scotia HELOC (Apr. 2020)
If I close my BMO account, can I expect for it to negatively impact my score. The limit on the card is $15,000 and currently my total available credit across all accounts is $342,500 with $200k of this via the Scotia HELOC. I don't carry balances on any of these credit facilities. I just want to ensure I won't be significantly impacted by shutting down the BMO credit card. Any feedback would be appreciated.
- HBC Capital One (June. 2012)
- Amex Cobalt (Sept. 2017)
- TD CB Visa (Feb. 2019)
- TD ICB Visa (Aug. 2013)
- TD Unsecured LOC (Jun. 2014)
- Scotia HELOC (Apr. 2020)
If I close my BMO account, can I expect for it to negatively impact my score. The limit on the card is $15,000 and currently my total available credit across all accounts is $342,500 with $200k of this via the Scotia HELOC. I don't carry balances on any of these credit facilities. I just want to ensure I won't be significantly impacted by shutting down the BMO credit card. Any feedback would be appreciated.