My cousin argued with me for an hour that closing old cards always helps your score

We were at a family cookout in Cleveland last month, and he kept saying his score jumped 40 points after he shut down three accounts. I tried to explain that his credit age tanked and his total limit dropped, making his use look worse. He just kept repeating 'fewer cards, less risk' like a broken record. Has anyone else had to deal with someone who just won't listen to basic credit facts?

4 comments

4 Comments

fiona7491mo ago

Ugh, that reminds me of my aunt who SWEARS paying your mortgage early is the only way to live. Tried to tell her that's not always the best move, but she just changed the subject to her garden.

alex8201mo ago

My buddy did that last year. Closed his first credit card from college to "clean things up". His score dropped like a rock. The hit to his average account age was brutal. Took him months to build it back up. Some people just hear one piece of advice and cling to it.

riley_gibson191mo ago

Yeah @alex820, that's the classic trap. People think closing old cards is smart, but it just wrecks your history. It's like deleting your oldest social media account to look fresh, but then you lose all your proof you've been around forever. That card from college was probably his longest line of credit. The system sees that gone and panics, like you're a bigger risk now. Gotta just keep that thing in a drawer and put a small charge on it once a year.

the_ben24d ago

It can be a risk to keep a card open if the annual fee is high though. Sometimes the cost just isn't worth the small credit score boost.