I'm not sure that's accurate. Average account age is a factor in FICO scores, so closing one can harm you if its older than your average age of accounts.
Originally Posted by
RobertHanson
Urban Myth.
Every account you open stays on your credit report for 10 years, even if you close it one day after you open it. So it's actually new accounts that could possible ding your credit if you don't have many accounts. But those accounts I opened 5 years ago, then canceled when the AF came due are still going to add to my AoAs for another 5 years.
