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Cap 1 Advice

Established Member

Cap 1 Advice

Coming up on my two year anniversary with Cap 1 secured plat mastercard. I Started with putting in 200, then I added 50, they added 100 unsecured at the 6 month anniversary, then nothing till I put in another 50 around 7-8 months ago. I asked before for a CLI around 4 or 5 months ago, and was told that they would not since it had not been 6 months since my last CLI (that was the 50 I put in).  I thought it was odd since I was the one who increased my CLI via a deposit. My issue is that its my oldest card, and I don't want to cancel it unless I have no options for a CLI or PC. I am about to hit the $39 AF, and clearly don't want to pay that unless they do something about my limit or a PC. Any advice? 

 

My account has a zero balance, and $400 limit. 

Amex Gold (NSL) 9/12
Chase Freedom (2200) 5/12
Citi Thank You Pref. (7000) 4/12
USAA AMEX (4000) 11/12
BOA VISA SIG CASH (5000) 12/12
Amex Gold Small Biz (NSL) 11/12
8 REPLIES
Established Contributor

Re: Cap 1 Advice

CapOne will not grow with you, esp. the secured one. They are good to start you off (again), but that´s it. Close it, according to you sig you have no need for it anymore.

 

I closed mine also ...

Amex Platinum | Discover IT | Amex BCE | Citi DCB | Chase Sapphire Reserve | Chase Sapphire Preferred | CapOne | NFCU goRewards and CLOC | Chase Freedom | Walmart | Alliant CU Visa | Couple of Biz Cards | Gone for good: CapOne secured (thx for getting me started) | Amex Zync (thx for getting me into AX)

FICO (TU/EX/EQ): 737/772/752 - Total CL 215+K

Established Member

Re: Cap 1 Advice

I am leaning more that way, but its going to kill my AAOA.

Amex Gold (NSL) 9/12
Chase Freedom (2200) 5/12
Citi Thank You Pref. (7000) 4/12
USAA AMEX (4000) 11/12
BOA VISA SIG CASH (5000) 12/12
Amex Gold Small Biz (NSL) 11/12
Valued Contributor

Re: Cap 1 Advice

It still reports for 10 years if you close it.

2013 Approvals: Discover IT - 3/1, Amex BCE - 3/4, CSP - 5/4, Barclay Ring - 6/12, BoA Privileges Cash - 6/27, Citi TY Preferred - 8/6, OCCU Duck - 11/4, USBank (Cash+) - 11/22, Wells Fargo - 12/21, Nordstrom - 12/29

12/19/2013, $100k+ Available Credit. Total Util: 0-1%
Established Member

Re: Cap 1 Advice

So if they wont CLI me or PC me, I can close with no hit to me AAOA, and hence scores other than utl %?

Amex Gold (NSL) 9/12
Chase Freedom (2200) 5/12
Citi Thank You Pref. (7000) 4/12
USAA AMEX (4000) 11/12
BOA VISA SIG CASH (5000) 12/12
Amex Gold Small Biz (NSL) 11/12
Valued Contributor

Re: Cap 1 Advice

Closed account stay on your report for 10 years after the last day you s closed your account......so buddie you be fine......you had somniece card on your profile ........so just closed it up before your account hit its anniversiry and avoid that $39.....


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Established Contributor

Re: Cap 1 Advice


nicholasyud wrote:

Closed account stay on your report for 10 years after the last day you s closed your account......so buddie you be fine......you had somniece card on your profile ........so just closed it up before your account hit its anniversiry and avoid that $39.....


+1

 

No fear, just close it. You do not need that card anymore.

 

Amex Platinum | Discover IT | Amex BCE | Citi DCB | Chase Sapphire Reserve | Chase Sapphire Preferred | CapOne | NFCU goRewards and CLOC | Chase Freedom | Walmart | Alliant CU Visa | Couple of Biz Cards | Gone for good: CapOne secured (thx for getting me started) | Amex Zync (thx for getting me into AX)

FICO (TU/EX/EQ): 737/772/752 - Total CL 215+K

Established Contributor

Re: Cap 1 Advice


shakalaka wrote:

nicholasyud wrote:

Closed account stay on your report for 10 years after the last day you s closed your account......so buddie you be fine......you had somniece card on your profile ........so just closed it up before your account hit its anniversiry and avoid that $39.....


+1

 

No fear, just close it. You do not need that card anymore.

 


+2

I am still holding on to my Cap1, but that's just because it has no AF. I would close it in a second if it did, and as other people have observed you have outgrown it. It will protect your AAoA for 9 years, and  after that you won't really need it.

SevenNEW, Garden Nerd - In the Garden until 2015!
4.2K 10K 24.6K
Senior Contributor

Re: Cap 1 Advice

They expect you to apply for an unsecured card with them.   I suggest you use their prequalifier and if you like any of those, apply for it.   You are highly likely to get it and I found the seucred card history helps with CL.    You can still hang on to the secured card, if you are worried about your AAoA 10 years from now.