That’s spot on about the “age of credit” factor. It’s kind of counterintuitive, right? You’d think responsible usage would matter more than just having an old account hanging around, but lenders really do care about that long history. I’ve kept my first card open for years, even though it’s got a laughably low limit and I barely touch it. Every few months I’ll buy a coffee or something just to keep it from getting closed for inactivity.
One thing I’d add—if you’re planning to apply for a mortgage soon, avoid opening any new credit lines or closing old ones, even if they seem pointless. That can ding your score at the worst possible time. The system’s definitely not perfect, but playing by its rules can save you a lot of hassle (and money) when you’re finally ready to buy. It’s a weird dance, but it does pay off in the end.
“I’ve kept my first card open for years, even though it’s got a laughably low limit and I barely touch it. Every few months I’ll buy a coffee or something just to keep it from getting closed for inactivity.”
That’s exactly what I do—my first card has a $500 limit and the ugliest design ever, but it’s basically my “credit history trophy.” I once made the mistake of closing an old store card right before applying for a car loan, thinking it didn’t matter. My score dropped like 20 points overnight. The system’s weird, but you’re right: sometimes you just have to play along, even if it means keeping that ancient card alive with the occasional $2 coffee run.
“my first card has a $500 limit and the ugliest design ever, but it’s basically my ‘credit history trophy.’”
I totally get that. Mine’s not pretty either, but I’m too nervous to close it. I’ve read that the length of your credit history can really impact your score, especially before big purchases like a home. It’s odd how something as minor as an old card can make a difference, but I’d rather not risk it. I just set a reminder to buy a snack every few months—feels silly, but it works. The system isn’t always logical, but I guess it’s better to be cautious than sorry.
I just set a reminder to buy a snack every few months—feels silly, but it works.
Funny, I’ve heard the same thing about old cards—“the system isn’t always logical”—but sometimes I wonder if keeping a card open with a tiny limit really helps that much. Has anyone actually seen a big score drop after closing one? Or is it more of a myth?
I’ve closed a couple of old cards over the years—mostly the ones with those tiny $500 limits that I never used—and honestly, my score barely budged. Maybe a few points, but nothing dramatic. The credit utilization ratio thing matters more if you’re carrying balances, but if you’re paying things off each month, it doesn’t seem to have much impact.
What I have seen, though, is lenders asking about random old accounts when I’m in the middle of a mortgage process. They love consistency and long histories, even if the card’s just sitting there. It’s weird, but sometimes they’ll ask why you closed something, as if it’s a sign you’re suddenly risky. Makes no sense, but banks can be like that.
I wouldn’t stress too much unless you’re right on the edge of qualifying for a loan. Otherwise, it’s probably not worth juggling a bunch of old cards just for a couple of points. Anyone else ever get grilled by a lender over something minor? That part always cracks me up...
