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what happens to your credit rating when you give up an old credit card

the journal of Michael Werneburg

twenty-seven years and one million words

Toronto, 2019.07.29

The lore of credit ratings says that maintaining credit accounts for a long time is good, so I've always wondered what happens if you give up an old credit card. Now I know; I recently gave up a nearly 20-year old card and my rating's fallen from 859 to 822 so far.

rand()m quote

Over the long term the only alternative to Risk Management is Crisis Management. Crisis Management is much more embarrassing, expensive, and time consuming.

—James Lam