Should I drop a card or not?

[EaglesFan2006]

I was recently lucky enough to add a pair of better credit cards with better limits than what I have.  They're stlil not great, but I'm happier. In any case, I'm considering dropping an old Orchard Bank or Cap One card with lower limits.  Is this wise?  I don't want to hurt the age of my credit history.  Assuming I have a zero balance, what's the best way to handle this?  Ideally I'd drop Orchard since it carries an annual fee, but it is also even with my first Cap one for my oldest credit card (three years)

[Anonymous]

Unless you are paying an AF to gain access to better rewards it is always a good idea to dump a card when you are able that has an AF.  If you close a card today, it will still be on your credit and add to your AAOA for 10 years.  The only disadvantage of dumping a card is losing the CL, depending on the balance you carry this could cause an adverse effect on your util.

Personally, since you are happy with your new cards, I would dump the other cards when the AF comes due.  I am going to dump a Cap1 card in Jan when the AF comes due.

[swpopham]

Dump em . They served their purpose. Its not going to affect you as long as you pay in full

[Repo-ed]

Put them in SD, until the AF is due, then close them.

[CreditResuscitation]

Hey EaglesFan2006, just out of curiosity, is your Capital One card secured? If so, dump it because your chances of winning the lottery are better than getting that thing graduated. If it's unsecured, see if you're at least eligible for a product change before you completely close it. If I were you, I would keep the Capital One if it's unsecured and make sure the utilization is under 10%, and with frequent use, you'll be rewarded. Since Orchard was purchased by Capital One anyway I'd drop them immediately because it's basically the same card with an unreasonable annual fee. Their annual fees suck, so if you can avoid them, by all means do so.