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Regular Contributor
brindle26
Posts: 212
Registered: ‎08-15-2012
0

Applied and CapOne

Applied was gotten in Aug of 2012 and CapOne in Nov. Both are secured cards. I'm fed up with them and want to cancel. Will this dramatically effect my scores which are in the mid 600's?

Valued Contributor
parakleet
Posts: 1,145
Registered: ‎04-13-2013
0

Re: Applied and CapOne

It depends on your credit profile. Are these your only cards? It may affect your util rate if you cancel but since the Applied isn't very old and it will stay on for 10 yrs anyways, it won't affect your aaoa. If these are your only cards, I would try to get another card to replace this one and then cancel. Others on the forum have great suggestions when it comes to secure cards. But with mid 600's, I bet you could qualify for CUs. Or you could try going for a card with the shopping card trick. Just do a search and there are tons of posts on how and what cards you can get. 


Gardening since 7/16/14
Current: EQ 711 7/13/14; EX 724 TU 721 6/19/14
Goal: 760+
Regular Contributor
brindle26
Posts: 212
Registered: ‎08-15-2012
0

Re: Applied and CapOne

[ Edited ]

My sig shows the cards I have. 8.86% utility is 8.86%. which is where I keep it at regardless of my total credit limit.I realize that it would lower my total credit limit. Should that be a concern with low scores, young aoaa and 8 HP's in the last 6 months? I'd lose two junk TL's, but what if my wife added me to her new CapOne rewards card?

Valued Contributor
Burned2manybridgesB4
Posts: 2,158
Registered: ‎03-15-2012
0

Re: Applied and CapOne

Frequent Contributor
Countingpennies
Posts: 465
Registered: ‎02-14-2013
0

Re: Applied and CapOne

I would apply for your own CapOne Rewards card. Just make sure it's the MC, not Visa; the Visas are for excellent credit. I think you have a good shot at it.
Regular Contributor
brindle26
Posts: 212
Registered: ‎08-15-2012
0

Re: Applied and CapOne

They already denied me because of to many inq's.

Valued Contributor
Burned2manybridgesB4
Posts: 2,158
Registered: ‎03-15-2012
0

Re: Applied and CapOne

How many HP's are you showing across all three CRAs in the past two years?


Regular Contributor
brindle26
Posts: 212
Registered: ‎08-15-2012
0

Re: Applied and CapOne

[ Edited ]

eight

What I want to do is get my $600.00 back and put some in my AMEX savings and some in my DCU savings. I'm thinking at my age 68 that I'd rather build a relationship with DCU & Amex than piddle around with these two sub-prime rebuilder go nowhere cards.


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