i have a cap one cc for 500 dollars and af 39 dollars which is due on sept. i have the cc for almost one year. cap one csr said will not go any higher. should i close the account? i really dont need the card just got a new visa for 8500. the only reason i will keep the card because my aaoa sucks i would like to have two years cefore i close.
closing won't affect ur aaoa immediately just starts the clock until the ten year drop off period. The fact that it's open and being your longest open account may help in getting the next card 6 months down the road. Closed accounts factor in your aaoa but i don't think they help lenders determine whether your credit worthy open/recent history helps.
i have theses cards
1. cap one 500
2 orchard 700 2 yrs in april will close next year.
3. navy visa 8500
4 juniper mc 1900
5 hooter mc 300 no af
I'd close. I closed my oldest card before a change of terms introduced an annual fee. CL was $11, 800. It still shows on my credit report.