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Should I cancel Cap1 and Aspen?

Valued Member

Should I cancel Cap1 and Aspen?

Hi all,
 
Need some advice on the next step to take with my Cap1 and Aspen account.  Since I was approved for the MC, Visa and LOC from NavyFed I would like to close the above accounts.  Both are paid in full with TL of $750 each.  I can not for the life of me get either one of them to CLI or waive the APR which is coming due in June and in September.  Well, I didn't technically ask Cap1 but they didn't bother to mention waiving it either when I spoke with an account specialist.  So I guess my question is will this hurt me if I close both of them since I acquired a very large amount of credit last week from NavyFed?
 
Also, earlier today I requested a consolidation of my Orchard MC with my HSBC Visa and the paperwork is being processed.  The younger of the two cards is where the conversion will take place because it has no APR.  Ok, any suggestions?
 
Thanks....
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2 REPLIES
Moderator Emeritus

Re: Should I cancel Cap1 and Aspen?

Utilization could hurt, but NFCU offers larger CL, and therefore likely won't hurt, especially if you don't carry a balance.
 
The only major consideration would be age, but that would be a long-term worry.
 
Message 2 of 3
Valued Member

Re: Should I cancel Cap1 and Aspen?

Thanks for your response llecs.  I kinda figured it would balance itself out since I actually have more credit with the new NFCU TL's but then I worry because Cap1 and Aspen are my starter accounts and I've had them since 2006.  Oh well, I guess I'll just roll the dice and see what happens.  Thanks again for your help.
Message 3 of 3