Closing Accounts with AU
12-07-2012 01:50 PM
I'm planning to cancel my Capital One cards in the near future, and trying to make sure I'm in the best position before doing so. They both have annual fees and there's no rewards, so I don't expect to use them anymore since I've got better options. One of them is my oldest account as it was the first card I ever got. I know that it will show on my credit report for another 10 years after I close it, so I don't have to worry about my AAoA taking a hit right away. However, my wife is also an AU on this account and I wasn't sure if it was the same policy.
If I close this account while my wife is an AU, will it stay on her report for 10 years or will it just disappear since she isn't an AU anymore, or what? She has actually never had any card in her own name other than this AU account, so having this one card disappear would be a pretty big knock to her score. We're planning to fix that and get a couple of cards of her own to get her credit profile padded a bit. I'll probably add her as an AU on other accounts too to help more with her AAoA. But this one particular card has the biggest potential to help her score out at the moment, so I may keep it open longer if I need to. But if I can close it and have it stay on her account anyway then I'll probably just go ahead and do that.
|EX: 683 (Nov 12)|
EQ: 703 (Nov 12)
725+ by Summer and 750+ by Year end