@Shock wrote:So my Cap1 Venture One is my oldest card (3.5 years old). I know keeping the oldest card open is beneficial for some, and that AAoA wont really be affected until a few years down the line. I know it will continue to report as positive for ten years, but if it doesnt suit my needs, I should close it right?
They have increased me thru EO semi accordingly, but it has become my lowest limit and I have only used the card for a Play Store purchase once since May.
I have just outgrown them and am really itching to get rid of it.
Thoughts or advice?
If your oldest is only 3.5 years, and there is no AF, I would recommend keeping it open. Charge something every few months to keep it printing Payment History. You only have 7 cards, no rush to close anything, and until your average gets closer to 8 years, you are still effectively building AAoA.
a 25 year old card is more important for aaoa than a 3.5 year old card. just saying lol
@Billybob_TX wrote:I have a Macy's from 1991. Used to be Titche's, then Joske's, then Foley's, then something else, and it has always been around. Kind of like it in my wallet. Old stuff is good.
@Anonymous wrote:Shock, sorry for getting that mixed up. I have a Quicksilver (that I never use) and I knew the QS One had the annual fee so I assumed it was the same for the Venture line up. If you don't care about keeping the available credit since your balances are so low, there would be no downside to closing it. You can just leave it there and they may close it eventually for you, but if keeping it open gives you any worry just close it.
It's fine. You wouldn't be the first or last lol. The only concern for me is the subprime thing (trivial i know) and the fact that if all my lines grow to 10k+ it will be the only one stuck at 4k. Not that I plan on applying for much more int he further, though i likely will, but I think it may hinder my chances at getting higher starting limits. i know it doesnt make logical sense, but i figure if all my lines are 10k+ they will start me at 10k+. if they see a 4k card they may start me at 7500. Still trivial I know lol depending on a lenders algorhythm, but it's a computer who does it, which may mess up when it sees that 4k.
@Shock wrote:
@Anonymous wrote:Shock, sorry for getting that mixed up. I have a Quicksilver (that I never use) and I knew the QS One had the annual fee so I assumed it was the same for the Venture line up. If you don't care about keeping the available credit since your balances are so low, there would be no downside to closing it. You can just leave it there and they may close it eventually for you, but if keeping it open gives you any worry just close it.
It's fine. You wouldn't be the first or last lol. The only concern for me is the subprime thing (trivial i know) and the fact that if all my lines grow to 10k+ it will be the only one stuck at 4k. Not that I plan on applying for much more int he further, though i likely will, but I think it may hinder my chances at getting higher starting limits. i know it doesnt make logical sense, but i figure if all my lines are 10k+ they will start me at 10k+. if they see a 4k card they may start me at 7500. Still trivial I know lol depending on a lenders algorhythm, but it's a computer who does it, which may mess up when it sees that 4k.
Interesting theory. I have cards with low limits, the $1.5k is from 2005, so by that logic... wait, it isn't logical, it's only interesting 
Keep it open. $4k is not a bad limit, and the ageing benefit far outweighs any other algorithm issues you might imagine. Your card count is very low too, and the more lenders you have, the more you will attract.
@NRB525 wrote:
@Shock wrote:
@Anonymous wrote:Shock, sorry for getting that mixed up. I have a Quicksilver (that I never use) and I knew the QS One had the annual fee so I assumed it was the same for the Venture line up. If you don't care about keeping the available credit since your balances are so low, there would be no downside to closing it. You can just leave it there and they may close it eventually for you, but if keeping it open gives you any worry just close it.
It's fine. You wouldn't be the first or last lol. The only concern for me is the subprime thing (trivial i know) and the fact that if all my lines grow to 10k+ it will be the only one stuck at 4k. Not that I plan on applying for much more int he further, though i likely will, but I think it may hinder my chances at getting higher starting limits. i know it doesnt make logical sense, but i figure if all my lines are 10k+ they will start me at 10k+. if they see a 4k card they may start me at 7500. Still trivial I know lol depending on a lenders algorhythm, but it's a computer who does it, which may mess up when it sees that 4k.
Interesting theory. I have cards with low limits, the $1.5k is from 2005, so by that logic... wait, it isn't logical, it's only interesting
Keep it open. $4k is not a bad limit, and the ageing benefit far outweighs any other algorithm issues you might imagine. Your card count is very low too, and the more lenders you have, the more you will attract.
His card count is low with 8???
fico member crack me up.. oooh i forget the other guy with 39.CA has over 64.so he is truly infant on the card count. me too. lol
@NRB525 wrote:
Interesting theory. I have cards with low limits, the $1.5k is from 2005, so by that logic... wait, it isn't logical, it's only interesting
Keep it open. $4k is not a bad limit, and the ageing benefit far outweighs any other algorithm issues you might imagine. Your card count is very low too, and the more lenders you have, the more you will attract.
burnnnnnnnnnnnnnn lol. i only want 5 cards. im pretty low maintenance...is this too low?