Close my secure CC account?

[Hcontreras]

Long story short, I got a secured credit card from Cap 1 about 10 months ago. I have built it up from my initial $300 deposit to $1,000 currently. Since then, I have applied for and have been approved for 4 other major credit cards (QS, Chase Freedom, AMEX BCE, and my CU visa). I now have all of the CC's I always wanted and will garden for about 2 years now (at least). I also have just purchased my automobile that I've always wanted as well. I will be freezing my reports now. I have all of the credit I want now and will just grow those limits (and enjoy my Corvette too).  :-)

This secured card is my oldest CC account (10 months old). However, I'm thinking of closing it because I no longer need it, since I use the heck out of my rewards cards. The big thing for me also is that I CANNOT grow it either, therefore it's useless to me....It's like dead money (if there is such a thing). In other words, it's already served its purpose (and that was establishing some credit).

My question is: Will it hurt my score to close it? I don't care about the $1,000 limit, that won't hurt me much (I don't think), what I'm worried about is the AAoA's....If I close it will it still factor into my AAoA's? If so, I'm good with that! Any feedback is much appreciated! Thanks all!

[axledobe]

It won't have any affect on your AAoA for 10 years when it drops off your reports.  Closed accounts counts toward AAoA, too.  Since it's only 10 months old and your other cards will be so old by then, I wouldn't hesitate to close it.  As for util, if you're keeping it low and the 1K drop won't hurt you, I don't think there's an issue at all closing it.

I presume you could go through the steps of unsecuring it and PC'ing it and all that jazz but if you have the cards you want now and wouldn't use an unsecured Cap1 card anyway, I think it's a no brainer.