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At what point should I close my capital one secured card?
it is currently my oldest card at one year old.
my average credit is 5 years old but aaoa is only 1 year 8 months
that will change once the four new cards report and used car loan.
DOes it have an AF? APR? Credit Line??
I say close it stat. It took me 7 years to close Crapital One. Thank heaven I finally did.
301 limit 29.00
So it should damaged my scores at this point?
even though i just took a major hit with the new cards i applied for- 15- 20 points lost
Fyi- i do already have six accounts reporting
Thanks for the replies.
close it and move on
Close it, it will just hurt you from this point. Capitol One's secured card is ridiculous for not unsecuring their cards. I'll be disposing of mine right before the next AF hits. Good luck
Closing the card won't affect your AAoA (except on free sites like Credit Karma, which is no big deal) It will still count as a positive tradeline, and average into your AAOA for the next ten years after closing.
When your new cards and loan report, your AAoA is going to nosedive no matter if you keep your credit card open or not. Time will fix that though as long as you stay away from opening any further new accounts.
@notfancy wrote:Closing the card won't affect your AAoA (except on free sites like Credit Karma
CK reports AAoOA, not AAoA.
A bunch of folks, including myself, got an unsecured CLI at the 2nd year anniversary. I went from $301 to $750.