Credit Karma - Average Credit Age

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Credit Karma - Average Credit Age

Postby GoCreditGo! » Wed Feb 12, 2014 12:11 pm

I'm on Credit Karma and the average age of my credit is 1 year, 3 months. I'm wondering if I should solidify the credit cards I have, so that they ultimately boost my average (pain now, for more stable gain later)?

Pros cons to doing it this way, instead of waiting?

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Postby MemberSince99 » Wed Feb 12, 2014 12:31 pm

I would think the pros and cons would be obvious, though we have no idea what cards you have or your profile other than CK says AAoA is 1.3 years. And I wouldn't trust that figure if it's from CK.

Anyway potential cons: more inquiries, further lowering AAoA, you "may" get toy limits or declined obviously.

Potential pros: You may get some great cards that can grow with you, the cards "may" actually raise your score despite the cons, and you don't honestly have a whole lot of AAoA to lose, relatively speaking, potentially lowering utilization thus raising score.

If you want something you might as well go for it, being smart and selective.

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Postby takeshi » Thu Feb 13, 2014 1:40 pm

Two things:

1. Keep in mind that CK tells you AAoOA, not AAoA. Your AAoA will be higher if you have closed accounts still reporting.
2. Closed accounts in good standing continue to report for 10 years so there won't be any consolidation taking place like you're thinking.

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