How will two cards with the same issuer behave?

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beckhsrules
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How will two cards with the same issuer behave?

Postby beckhsrules » Tue Jun 10, 2014 7:54 am

I have this wierd question of how two cards with the same issuer will behave. Will the age of the second card be equal to that of the first even if I close the first one?

Say in my case I already have the CashRewards card from BoA from Jan 2014. Lets say I get a BetterBalance card from BoA effective Jun 2014. How will it affect my AAoA. Also what will happen if I close my CashRewards card? Sorry it might be a dumb question but please help me.
Cards:

Amex Blue Sky 2000 (5/14)
Amex PRG NPSL (8/14)
Bank of America Cash Rewards Visa 2500 (1/14)
BofA Better Balance Rewards 1000 (6/14)
Discover IT 1250 (4/14)


Scores: As of May 25 2014

Experian 714
Equifax 709
TransUnion 714
Discover 694(Aug 31)


augiedog
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Postby augiedog » Tue Jun 10, 2014 8:52 am

The age can vary by issuer. I am not sure what BoA does since I only have one credit card with them. I applied for the Better Balance card and was denied by the bank saying I had a large enough credit line with them...
Once I redeem my cash bonus I'm going to do a product change from the Cash Rewards to the Better Balance since I rarely use the card.
American Express: Blue Cash Everyday (10k), Everyday, ; Discover It (7.3k) ; Target (2.1k)

Citi: Diamond (2k) ; Bank of America: Cash Rewards (2.6k) ; Capital One: Quicksilver (3k) , Sony ; Chase: Freedom (3.7k), Slate (3k), (Amazon) ; Barclay Ring ; Synchrony: Walmart MC, Amazon, Ebates

MemberSince99
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Postby MemberSince99 » Tue Jun 10, 2014 10:05 am

I think you might have read about Amex backdating and are confused as to whether BofA will do that. The answer is no. Only Amex will make the date of the second card the same as the year the first one was opened. Obviously the new card will lower your AAoA that's just how it is. The rules of math are what they are.


Your AAoA is not affected by closure as the card continues to report for 10 years if it was closed in satisfactory condition.

beckhsrules
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Posts: 49
Joined: Tue May 13, 2014 10:20 pm
Location: NewJersey

Postby beckhsrules » Tue Jun 10, 2014 10:38 am

You are right MemberSince99. I got confused with the Amex backdating :) So with other banks even if I do a product change it will considered as a new card right ?
Cards:



Amex Blue Sky 2000 (5/14)

Amex PRG NPSL (8/14)

Bank of America Cash Rewards Visa 2500 (1/14)

BofA Better Balance Rewards 1000 (6/14)

Discover IT 1250 (4/14)





Scores: As of May 25 2014



Experian 714

Equifax 709

TransUnion 714

Discover 694(Aug 31)

takeshi
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Location: US

Postby takeshi » Tue Jun 10, 2014 10:44 am

Depends on the creditor. Generally, a PC shouldn't affect AAoA. However, some creditors close the old account and open a new account and call it a PC even though it really isn't a PC.



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