Will it hurt my rebuild to close my secured CC at this point?

[Anonymous]

I know some are in the camp of never closing anything and others feel differently. I now have Freedom, Slate, and QS1. 

The secured card is a Cap One. I opened it in December 14. I know generally people like to wait until a card is 12 to 24 months old. I know that Cap One will refund the AF if I close the account within 30 days of when it hits when that time comes around.

I would like to get rid of it and just focus on my other three. I've got an amazon store card too, BTW. Could use the few hundred I added to it in other ways, but I could wait until Dec/January if I needed to.

Thoughts? Would it be better to show I managed it a year before closing since I'm in a rebuild? I don't plan on applying for anything in the next two years. 

Thanks!

[gdale6]

6 months of reported history at minimum then you can close. Since you have paid the AF I would just do it the month prior to the billing of the AF.

[Anonymous]

Thanks, gdale6. I appeciate the many times you've helped me! 

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@gdale6 wrote:

6 months of reported history at minimum then you can close. Since you have paid the AF I would just do it the month prior to the billing of the AF.

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[Anonymous]

I personally think 24 months minimum is the best way to go . You can ask cap 1 to take away the annual fee . They did it for a lot of people .

[Anonymous]

I dont have a cap1 secured, but do they graduate you to an unsecured after successful period?

I do have a B of A secured 99/500 and they will graduate.

[Anonymous]

No, they won't.