Should I axe my capital one card?

[Anonymous]

So just recently I received a 500 dollar cli on my discover more card I also have citi div, Amex bce, chase slate, three decent prime cards to go along withy cap one card my limit on that card is 750. I thinking of dropping it because it's my only card with an annual fee. Since I gained 500 on my discover card and if I close my cap one Thera a 250 dollar difference in credit available do u think this will effect my score being that it's only a 250 total available change and if so , points wise how much? Btw I'm at about 10% uti all cards combined any suggestions would be appreciated tks

[LS2982]

I would PIF on the Cap1 and call their exec. Office in the backdoor sticky at the top of the forum and ask them to waive the AF when it comes up. If they won't, axe it.

[jsucool76]

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@LS2982 wrote:
I would PIF on the Cap1 and call their exec. Office in the backdoor sticky at the top of the forum and ask them to waive the AF when it comes up. If they won't, axe it.

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That's what I would do as well. no sense on paying an AF for a card that isn't doing anything for you. It can always be replaced later down the road. 

[Open123]

You should PIF the final bill and close it immediately.

All things being equal, one should never pay a fee for a non rewards or benefits credit card.

[Anonymous]

Tks all

[bettercreditguy1]

What is your AAOA? What is you utilz?. To best answer, your totals need to be disclosed.

[LS2982]

AAoA is usually a non factor in closing accounts if you have active accounts currently. A closed account will continue to report for 10 years.

[Anonymous]

As stated in my o.p. 10% is my uti all cards combined

[bettercreditguy1]

Closing this card out does not appear to effect your aaoa or your credit borrowing power that much. I believe the choice is yours.

[Middleswarth]

@matt6781 - I'm with you on this one.  I plan to close one of my Cap One cards next week.  No point in keeping it since my CL has increased 20x in the past 2 months.