- Centurion Member
- Posts: 204
- Joined: Tue Oct 30, 2012 10:25 am
- Location: TX
It would immediately hurt your available credit. For example, if you have $50k between 12 cards, and canceling three of them brings you down to $25k, you've just halved your available credit. Likewise, if you have $50k between 12 cards, and canceling three of them brings you down to $45k, you haven't dinged yourself too much.
The cards continue to report towards your AAoA for 10 years after closing, then fall off. So say you've had those three cards for 5 years, 2 years, and 1 year when you close them. They'll continue to age and report, but in 2024, you'll suddenly lose a 15-year-old card, a 12-year-old card, and an 11-year-old card from your Average Age of Accounts.