Can I boost my credit by closing a young line of credit to increase my average account age?

Submitted by JMDilly t3_10q8wwg in personalfinance

I broke my femur in July and was hard up on cash in November so I had to take a line of credit out for an emergency vet bill (Dog is doing great). I'm looking into home ownership this summer as I've started liquidating my toys, am receiving a good tax return and a raise at work. My FICO scores range from 725-780 across the three bureaus and I was wanting to bump that even higher. This line of credit is two months old. I ran the numbers and if I close this account it bumps my average account age by more than a year. I'm somewhat concerned about my line of credit reducing but I've been doing decently at keeping my utilization on all cards below 8%. Anyone have any sound advice if this is a decent move financially?

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Cruian t1_j6ojv44 wrote

No. Even closed accounts are factored in for up to 10 years after closing. They also continue aging though.

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t-poke t1_j6okvxr wrote

> My FICO scores range from 725-780 across the three bureaus and I was wanting to bump that even higher

Congratulations, you already have excellent credit in the eyes of lenders. There's no point in trying to go higher. Don't micromanage your credit score.

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