@MT936 wrote:i say close both if you are able to obtain unsecured cards. they will remain on your report and continue to contribute to your average age of accounts for 10 years after you close them so it is better to close now rather than later just make sure your utiliztion % is low because cancelling will cause it to rise
Why Close both? From what I read people have been able to ask Capital one to take off the AF on the quickSilver one card permanently. He can always try to see if he can PC it to the Quicksilver card which has no AF
@sexy_kitten7 wrote:As a PSA, federal law requires issuers to refund annual fees upon cancellation within 60 days of the AF post date.
Therefore, OP can cancel the secured card today and get their money back.
It is July ... Way past 60 Days since he Said he paid it in April
@leirbad4 wrote:Thanks guys for all the feedback... Well the secured card i just paid the AF beginning of this month but when i called cap1 in april to see if they could upgrade me to a rewards card they told me i had to apply for one they couldnt PC to a diff card. So i decided to apply for quicksilver1 and charged me $39 AF in aprl. I think im going to wait on that one a few months just to see if they can perhaps upgrade me to quicksilver with no AF. But the secured card i feel like im going to be paying AF for the rest of my life until i cancel it. Quite frankly i dont mind as much on quicksilver1 because it pays itself with the rewards but it'd be nice to not have the AF.
You don't need to PC it to the Quicksilver card... Just shoot an Email to the EO or on Facebook andask if they can just take off the AF on the quicksilver one card. Same Mastercard and everything but no AF
@VirtualCuriosity wrote:
@leirbad4 wrote:Thanks guys, i paid my secured card AF just last month and quicksilver 1 when i opened it in april of this yr. I just dont want to keep paying that since i got the freedom and barclays with no AF. I just dont want those to age and then close them and hurt my AAoA. The times ive been declined for credit by discover it was for not enough credit history so i dont really want to mess with it so i'd rather close them sooner than later..
I would say, since you paid the AF already on the QS, wait until about March next year and chat online with them. Tell them you want to upgrade to something without an AF. Cap1 seems pretty good at upgrades. The QS isn't a bad card to keep around, without an AF and let is help with AAOA down the road. On the other hand, I would close the secured asap. That's just what I would do.
I agree, definitely keep the QS and request for an upgrade. If the chat isn't able to, then contact the EO and most likely they will upgrade your card to the QS with NO annual fee.
Gardening Until Further Notice
@Closingracer99 wrote:
@sexy_kitten7 wrote:As a PSA, federal law requires issuers to refund annual fees upon cancellation within 60 days of the AF post date.
Therefore, OP can cancel the secured card today and get their money back.It is July ... Way past 60 Days since he Said he paid it in April
OP said "I opened my secured credit card with cap1 June 2013." This has a $29 AF, I believe.
The original post was a little confusing since they used the product name for some accounts and the generic name for others.
