Credit Cards

[jonmartin]

I had 3 capital one cards all of them were $500 CL for the longest since my BK. I just shut one down and I'm thinking about shutting the other two down. One of them is a sparks Business card that I really dont need and was just upped to $750.00 CL through the credit steps program but in all reality I dont have a puropose for it since I already have a Chase INK card and a since I also just received a Chase freedom with a $1500 cl the only benefit of having one of the Capital one cards is that its been reporting since 2009 and I'm kind of worried that it will mess up my AAoA. But on the other hand I don't want to have a toy limit card on my report holding me back from higher CL's. I also have a $5,0000 CL NFCU nRewards Visa and I'd like to make that the norm for my cc's which is worse? The temporary death of my AAoA or Toy limits?

[jamesdwi]

If they have an AF close it if no AF keep open closing cards does not.affect AAoA. both open and close accounts contribUte to AAoA. Closing ccards only effects UTL

[jonmartin]

OK thanks they are both annual fee. The sparks business card has a really high interest rate 22.99 and the Classic has a rate of 12.99 but at a $500 line its uselless thats about 2 night outs on the town.... 

[iMacDrew]

id cancel them, if you dont want to have to worry about maintaining them.

[pozativelyliving]

I was wondering the same thing about my $300.00 Cap 1 secured account. After today's adventure, I don't have any plans for credit for about a year. It's only $300. ($200. of it is mine) and I have good accounts that are reporting from many years before. If anything, it might only take a few points off of my score. 

[jsucool76]

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Definitely keep them open if there is no AF, it's not hurting you. If there is an AF I would close as soon as the next AF rolls around (or ask them to waive it). They will report for 10 years after you close them as positive accounts 

Edit: All these replies happened while I was typing. xD 

[bichonmom]

I had 2 cap ones in the steps program. $750 biz visa and $500 personal mc. I closed the $750 visa at 1-yr anniv since they refused to wsive the $39 AFand I knew the CL wasn't going anywhere. I already had other CCs with much higher CLs that made cap one look like a joke. It was great feeling to cancel. They didn't even attempt to retain me as acustomer. The feeling I got from multiple reps was that they reallydidn't care if I did business with them or not. 

I still have the $500 mc, which I've kept since there's no AF. However, I'm on the verge of closing that one too. It's a personal opinion. But I think that since they refuse to recognize the improvement in my credit - and perfect history with them - by increasing my CL, I don't really want to do business with them. I have 5-figure CLs now, so that piddly $500 toy limit is kind of  a thorn on my credit report. I'm also of the mind that cap one isn't so special that they should do 3 hps when the rest of the cc industry does 1 as a rule. (if someone really wants a cap one and doesn't mind the HPs, thst's fine. This is just my personal feeling.)

I am grateful that they helped me to rebuild, buT their business model and customer service just doesn't fit me anymore. Hope this helps with your decision. 

Also, your AAOA isn't affected for 10 yrs, and by then you'll have enough credit established that it shouldnt affect you.

 Crazy spacing, spelling and capletterscompliments of crazy autocorrect! GRRR!

[slarano]

I recently closed one that had an AF. It was only $19, but Crapital One isn't worth the lunch money... 

[webhopper]

Consider applying for nfcu business card. If approved close sparks.

Close the other cap 1 personal card.

[jonmartin]

Thank you all for your input.  I will close them out.