Originally Posted by
LWT3
Yes, it's very easy to close cards quickly and still have a FICO score well over 800. Or over 830 if my circle is representative. Not sure how the models work, but I would bet there is little difference in AAoA between a churner who opens a zillion cards and closes near the one year mark vs one who opens a zillion cards and closes them within a few months. In any case, I hate clutter, including financial clutter, so I close my AA accounts quickly.
Originally Posted by
NTP9766
Same here. FICO around 830, and I close them quickly so that it’s less clutter and much easier to manage. If that means I have to spend three minutes calling in to close a card, so be it.
We take a bit of a hit every time either of us closes a card. Despite having zero debt I find getting our scores much above 800 is a task and may be impossible without a mortgage, car or some other type of installment loan with monthly payments.
We swap off for 5/24 ( I'm not getting cards again until late 2019 when I will be below 5/24) so my wife will start closing cards soon and I can almost guarantee she is going to drop below 800 closing one card per month.
As I said if it works for you that's great for us not cancelling any cards for years and then one a month as they approach the AF works the best.