Closing an old credit card feels like a responsible clean-up move. Many people do it to simplify their wallet, unaware that it can lower their credit score.
The real hit comes from losing total available credit. When your total limit drops, your credit utilization ratio rises immediately. That sudden spike in utilization can trigger a drop in your score.
The history itself is actually safe for a decade. Experian confirms that accounts closed in good standing remain on your report for up to ten years. Negative history drops off after seven years.
Think twice before closing your oldest account if you plan to apply for a major loan soon.
How many cards are you keeping open right now?
