Originally Posted by
mikew99
I'm not an expert in this area, but how does cancelling a credit card immediately shorten the average age of accounts? Sure, in a few years it might have an impact, but by then, many more things could have changed also.
Presumably if you have, for example, two accounts showing on your credit score and one is 20 years old and the other just 2 years old then the average age of the accounts on your credit report would be 11 years. Then, if you were to cancel the older account, it would immediately leave you with one account on your credit report showing an age of just 2 years.