Reply
Established Member
garci349
Posts: 48
Registered: ‎11-27-2012

Capital One CC since 2008, $500 credit limit

I am debating if I should close this account or not. I never use it and there are no benefits if I use it. Its a 500 limit open for 5 years. If I pay it off and close it, will this negative ding on my FICO or no that bad?

Amex Green Card, U.S. Bank Platinum $2,000, U.S. Bank Line of Credit $1,500, BoFA Visa $500, C1 $500
Regular Contributor
a3quit4s
Posts: 211
Registered: ‎03-07-2013

Re: Capital One CC since 2008, $500 credit limit

Depending on what other cards you have and how long you have had them for that could crush your annual age of accounts

 

 

which is bad


EQ 733 3/3/13 GOAL: 800 Merrill Lynch Merrill+ $12,500 | AMEX BCE 6K | AMEX PRG NPSL | CSP 6K | Freedom 5K | Discover IT 5K | HVFCU 10K | American Eagle Visa 5K | Citi Thank You Preferred 6,100

In the garden since 4/22/13 | Hating on Capital One since '09
Moderator
09Lexie
Posts: 24,093
Registered: ‎09-13-2012

Re: Capital One CC since 2008, $500 credit limit

Community Leader
Senior Contributor
myjourney
Posts: 25,133
Registered: ‎02-07-2013

Re: Capital One CC since 2008, $500 credit limit

I would try the EO route first then make an decision.

PM sent

"Intelligence plus character--that is the goal of true education"
I will be gardening until a better offer/bonus comes along
Last escape 06/06/13 Bronze 7/6/2013 Silver 9/6/2013 Gold 12/6/2013 Palladium 3/6/14 made it...6/6/14 Plat is all mine
Moderator
09Lexie
Posts: 24,093
Registered: ‎09-13-2012

Re: Capital One CC since 2008, $500 credit limit

@a3quit4s wrote:

'Depending on what other cards you have and how long you have had them for that could crush your annual age of accounts'

Sorry,that's not accurate. OPs AAOA will only be affected once the closed card drops off the CR's. AAOA or average age of accounts is an average of all accounts (open and closed) as long as they are on the cr.
Established Member
garci349
Posts: 48
Registered: ‎11-27-2012

Re: Capital One CC since 2008, $500 credit limit

What is the EO?

Amex Green Card, U.S. Bank Platinum $2,000, U.S. Bank Line of Credit $1,500, BoFA Visa $500, C1 $500
Established Member
garci349
Posts: 48
Registered: ‎11-27-2012

Re: Capital One CC since 2008, $500 credit limit

I had opened a BOFA CC with the same AGE and CL. I guess it won't hurt if I keep it open and leave it at a 0 balance in my wallet right...?

Amex Green Card, U.S. Bank Platinum $2,000, U.S. Bank Line of Credit $1,500, BoFA Visa $500, C1 $500
Community Leader
Senior Contributor
myjourney
Posts: 25,133
Registered: ‎02-07-2013

Re: Capital One CC since 2008, $500 credit limit

EO= executive office

"Intelligence plus character--that is the goal of true education"
I will be gardening until a better offer/bonus comes along
Last escape 06/06/13 Bronze 7/6/2013 Silver 9/6/2013 Gold 12/6/2013 Palladium 3/6/14 made it...6/6/14 Plat is all mine
Moderator
09Lexie
Posts: 24,093
Registered: ‎09-13-2012

Re: Capital One CC since 2008, $500 credit limit

[ Edited ]
Executive office many have expressed recent success with contacting them and explaining what you want ie AF waived, APR reduction, PC and/or CLI.


Myjourney...you are typing fast this morning!
Frequent Contributor
tattooedhusker
Posts: 471
Registered: ‎10-25-2012

Re: Capital One CC since 2008, $500 credit limit


garci349 wrote:

What is the EO?


Executive Office.

NFCU CashRewards $13.5k | AMEX BCE $9.5k | Lowes $17k | Sportsmanss guide $5.5k | Chase Freedom $1k | Discover IT $1.4k |
Walmart $8k | Gordman's $1350 |

Scores: EQ: 676 EX: 714 TU: 720

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+