Recently I got a notice from BA that they were going to close my oldest cc unless there was activity on it before mid Dec. I was planning to comply and put a $2 type charge just to keep the oldest cc alive. Then I started wondering if it really mattered.
We have a lot of cc in the drawer unused. The utilization using all and a max charge month is about 0.02 (2%). Without this oldest card, that number goes up slightly to 0.022. That is using the balances at month end. If I have to include the balances in the new month before the previous month gets paid off,
I suppose those numbers could double.
This oldest card is from 1995. Without it, the oldest card is from 2000.
If I let the oldest card get cancelled, do you think there will be a significant reduction of credit score?
We have a lot of cc in the drawer unused. The utilization using all and a max charge month is about 0.02 (2%). Without this oldest card, that number goes up slightly to 0.022. That is using the balances at month end. If I have to include the balances in the new month before the previous month gets paid off,
I suppose those numbers could double.
This oldest card is from 1995. Without it, the oldest card is from 2000.
If I let the oldest card get cancelled, do you think there will be a significant reduction of credit score?