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Close Capital One Secured Card?

Super Contributor

Re: Close Capital One Secured Card?

OP tell them you don't want to pay any AF's

None...Nada...zip...ever

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 11 of 16
Highlighted

Re: Close Capital One Secured Card?

The annual fee isnt whats bothering me 

 

I want the 2800 to buy some more stock but I dont want it to ruin my credit profile 

Message 12 of 16
Senior Contributor

Re: Close Capital One Secured Card?


Armissea wrote:

The annual fee isnt whats bothering me 

 

I want the 2800 to buy some more stock but I dont want it to ruin my credit profile 


Siince you PIF every month your utilization won't be impacted, and even though it's closed it, will continue to report for 10yrs, so your AAoA won't be hurt either. 

Message 13 of 16
Super Contributor

Re: Close Capital One Secured Card?


Armissea wrote:

The annual fee isnt whats bothering me 

 

I want the 2800 to buy some more stock but I dont want it to ruin my credit profile 


If your UTL is low it won't have a big effect but bear in mind you will be reducing your available credit limits

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 14 of 16
Super Contributor

Re: Close Capital One Secured Card?


FocusedAndDetermined wrote:

Armissea wrote:

The annual fee isnt whats bothering me 

 

I want the 2800 to buy some more stock but I dont want it to ruin my credit profile 


Siince you PIF every month your utilization won't be impacted, and even though it's closed it, will continue to report for 10yrs, so your AAoA won't be hurt either. 


+1 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 15 of 16
Valued Contributor

Re: Close Capital One Secured Card?


Armissea wrote:

I currently have these limits as follows these are all credit cards I Pay them in full every month and never leave a balance sit

 

the secured card is my oldest open acct at a year and ten months it is also my second largest credit line at 3,000 dollars  please advise if I should cancel 

 

 

Credit Cards Limit  


 Chase -1500   

 

Capital One -750

 

Trumark Financial- 500

 

Capital One- 750 

 

Walmart -5300

 

Capital one secured -3000


Email the EO and tell them what you're looking for...that has been the best route for many here, including myself. Good luck to you.

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Message 16 of 16