Sentences with phrase «older cards shortens»
Closing older cards shortens your history and can negatively impact your score.
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What good are old fashioned report cards when the cycle of learning new concepts, testing a learner's knowledge on these concepts, and repeating has been shortened to the amount of time it takes for a learner to finish an online activity or course exam?
Closing a credit card account is usually not a good idea; having less available credit can negatively impact your credit score, and closing old accounts will shorten your credit history.
If you cancel old credit cards, you could shorten your credit history and hurt your credit score.
That last point is important because canceling your oldest credit card will, in the long run, shorten your overall credit history — and length of credit history is a major factor in the way FICO calculates your credit score.
Closing an account, specifically an older card, also shortens the timeline of your credit history.