Before you close your account, it might be helpful to understand that keeping your Grow Credit account active will help you continue to build your credit score at no charge, even if you have another credit-building card.

Two factors in your credit score are the average length of your credit history and your mixture of credit products. Having an active Grow Credit account will help you with both:

  • Building credit takes time. Your average credit history length, meaning how long you have had a credit card or loan, accounts for about 15% of your score. Maintaining any financial products in good standing for an extended period of time will benefit your credit score performance in the long run.

  • People are considered thin-file consumers whenever they have less than 5 financial products on their credit profile. Thin-file consumers are considered riskier borrowers, which puts a ceiling on their credit score and leads to higher interest rates on loans and other financial products. That is why we recommend that you hold on to your free Grow account indefinitely.

Keeping your Grow account, even while using other credit-building methods, will help your credit score performance in the long run. If you would still like to close your account, email so our customer support team can assist you.

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