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My oldest cc is 6 years old (non-american), and I really want to close it. Do you have any idea of its effect ob my FICO? (You mentioned "age for 10 years", wha
by zzleeper 10y ago
My oldest cc is 6 years old (non-american), and I really want to close it. Do you have any idea of its effect ob my FICO? (You mentioned "age for 10 years", what does that mean?) :)
- nommm-nommm 10y agoIf its non American does it show up on your American credit report? If it doesn't it won't effect your American credit score at all, close it. FICO 8 calculates "average age of accounts" as total months of all accounts on your credit report (both open and closed) from the open dates to the present, divided by the number of all accounts on your report. "Average age of accounts" is what they use in their scoring algorithm. They also factor in "age of oldest account" in their scoring algorithm which is why you shouldn't close your oldest account because it will drop off your credit report after 10 years. Closed accounts only stay on your credit report for 10 years.