Quick Answer
Length of credit history factors in the age of the oldest account, the average age of all accounts, and the age of specific account types - typically representing around 15% of a FICO score.
Key Takeaways
- Closing old accounts can hurt by lowering average age.
- New accounts lower the average.
- History length is harder to change quickly.
The Patience Factor
Unlike utilization, length of history responds slowly - there is no fast way to make a credit file older than it is.
Frequently Asked Questions
Should I keep my oldest card open?
Educational sources commonly recommend keeping the oldest account open when feasible, since it anchors the credit file's age.