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Yep, another Capital One thread. I've had a card with them for about 3 and a half years, which is a bit higher than my AAoA of 2 years, 8 months. Last year I contacted the EO and managed to get a limit increase from $500 to $2000. Customer service once was able to offer me a "great" rate reduction from 22.9% to around 17% for 3 months, which was still higher than most of my other cards.
I have total limits around $58,600 so the CapOne limit isn't a huge percentage of this. My score according to CK and CapOne's own credit tracker is 787, which makes this limit and rate (which is listed as the highest rate for the QuickSilver) absolutely ridiculous. I have 4 other cards with limits between $8000 and $14200. The only two cards I have with lower limits is my Express credit card and the Macy's Instore portion of my Macy's card (the outside of macys has 4k, however).
With 1.5% cashback, almost every purchase is better placed on other cards.
I'm not sure if I should even bother asking the EO for another increase and rate reduction given that a card with a 23% interest rate and limits less than 2 weeks of pay is aboslutely useless to me other than a slight boost of credit scores.
How much of a hit would I take if i were to close this account--mostly out of spite since I know leaving it open costs me nothing--given that it's higher than my AAoA (which probably boosts it a bit) and only 3.4% of my total limits? Should I just forget about it and leave it? Close it because it's absolutely useless? Try to reach out to the EO again?
Closing it stays on your credit report for 10 years as a positive TL. The only way it would hurt your score is if it raised your utilization. In my opinion I would keep it open pay in full to avoid interest and hit the CLI button every 6 months.
It does not hurt your Average Age of Accounts. I decided a while ago that if a card does not work for me then it goes. I have never had a sizeable effect from closing a card (no more than 1 or 2 points). However, it will depend on the overall size of the file. YMMV.