Explanation
Older accounts establish a longer track record and contribute to higher scores. Closing your oldest credit card can shrink your average age — even though closed accounts stay on the report for up to 10 years before falling off.
Authorized-user tradelines can sometimes inherit the primary account's age, which is one reason families use them to help younger members build history.
Examples
- •A 15-year credit card boosts average age
- •Opening three new cards in 6 months lowers average age
- •Average age above 7 years is considered strong
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