Super Contributor
Posts: 7,102
Registered: ‎12-11-2011
Re: Stuck with Cap1 Platinum Visa $500 CL, and $59 AF for 12 years. Help!!!!

pt2005 wrote:

Thanks CreditChampion, somotao, and migliogiorni for the info and advice.



1. When I call/email, is it a hard pull or soft?

2. If I close the card, is my score going to drop drastically? I used to have many cards in the past 12 years with CL going up to 10K, 15K but I closed them all due to charged off yet for some reason this Cap1 card did not bother to drop me. So I kept it. Now, I'm back financially and have been staying on top of things, all of my recent cards are about 1-2 years old.



1. Most have reported even while dealing with the exec office and after having a manual review there was still no hard pull.

2. I don't think your score will drop at all, since I doubt that the $500 limit is playing a huge role in your utilization. That is the only thing that would affect you now. Your account will continue to report as "Closed" for the next 10 years, so your AAoA will not be affected now. 


You have 6k in available credit now, so the $500 shouldn't make a huge impact really. It is definitely worth closing it to save $59, but as others have said, you've had your account for 12 years, definitely try the exec office at least. The number is on the 7th page of this thread.