Cancelling a secured cc that is no longer needed.

[Anonymous]

I would like to cancel my Capital One secured cc in order to get my $1000 security deposit back. I no longer need or use this card as I now have 3 Fico scores of 750 to 760 and now have 5 non secured cc's with Chase being the highest with a 22k limit. However the Capital One card is my oldest by about 8 months compared to my next oldest cc.which is non secured.  What sort of a ding point wise can I expect if I cancel the secured card? It would be nice to get the $ 1,000 back, but maybe not worth dropping score. Capital One will not convert to non secured they said. One has to cancel  this card  Dont need and then apply for a non secured  card. Which I will not do as I have no need for more cards or lines of credit.. Any good advice?

[myjourney]

Welcome to the forum 

No need and it won't hurt you in any way 

So have at it and get your funds back for a better return on your $$$$$$$$

[NichelleN]

There are more experienced people here who can give answers. But, I'll chime in since I canceled a Cap One secured card last year. It has not impacted my score at all. It was my oldest card but since it was a positive account with a perfect payment history it still factors into my average age of accounts. The only result from canceling is I gained an extra $3k in my bank account from getting my funds back.

Good luck.

[Anonymous]

Thanks to all for prompt feedbacks. Much appreciated. Think I will take the plunge and hope for not too much of a score drop.