{ "media_type": "text", "post_content": "Question about credit age and credit scores. If I call up Amex and tell them to open a new credit card and transfer the credit from another card to this new credit line (and cancel the old credit card but keep the old credit line on my new credit card). Would the average age of open credit decrease as a result of both opening a credit card AND losing the credit card I had opened? Or would the age if the second credit card be transferred over.", "post_id": "60fea9c5ca37fd00207dd6bc", "reply_count": 5, "vote_count": 1, "bowl_id": "564a5cdb94887803001dd07c", "bowl_name": "Accounting" }

Question about credit age and credit scores. If I call up Amex and tell them to open a new credit card and transfer the credit from another card to this new credit line (and cancel the old credit card but keep the old credit line on my new credit card). Would the average age of open credit decrease as a result of both opening a credit card AND losing the credit card I had opened? Or would the age if the second credit card be transferred over.

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In most cases it would show up on your credit score as two separate transactions, a closed credit line and a new credit line. Amex has different "Families" of cards so you might be able to product change over to the new card you want and it would NOT affect your credit.

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The age will decrease; if you move the activity to a newly opened account, it is now part of the new account; and if you closed the prior old account, that account is no longer actively factored into your credit score since it is no longer open. I believe they would take the average of the ages of the accounts in some way. Therefore account B that you just opened is zero months old, even though you may transfer a balance; and the age of account A ends at whatever length of time passed until the account was closed and merged. However the amount of credit balance you are carrying should not change, save for any monthly payment you made, during the balance transfer process. If you just want to do a balance transfer to a new card, that’s fine and there may be a great low or 0% interest promotional period for the amount moved over. If your transferring the whole balance from the old card account - I would suggest holding the lid account open for at least a short while, even if you do not use it. The allows the new card to age some, and opening/closing accounts at once will like drop your credit score at least temporarily. If you’re expecting that and confident in overcoming it quickly, then by all means. But if you don’t have to… don’t rush the changes to avoid any dips in your score. Was this helpful?

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Very helpful EY1 and SA1, thank you!

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Amex backdates to the year of your first card so if the line is opened today it would be July (year of first Amex). For example I opened my first Amex in 2013 and opened a platinum this past January. It reports as January 2013. Edit: never mind they stopped this practice a bit ago.

funny

Sometimes you're able to just upgrade your card go the next tier without opening a new account?

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