No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
Here's the list of my cards:
Captial One - $500 CL $40 AF
Barclay (Apple card) - $2800 CL No AF
Discover IT - $1,000 CL No AF
Amex BCP - $2,000 $75 AF
Amex PRG - NPSL $175 AF
Chase Freedom - $3,000 CL no AF
The captial one card is my oldest account (about 2 years)
but they suck with CLs. Should I close that account? I
hear it doesn't fully affect AAoA right away. In that case,
the other cards would be able to age and fill the void. Or
am I wrong?
Plus I don't wanna pay $40 annual fee for that crap card with
that terrible limit.
Any advice?
It appears that the card has already finished serving its purpose, as you've added some other good cards subsequently. So long as your util is in good shape, closing it sounds like the right thing to do.
@tinuviel wrote:It appears that the card has already finished serving its purpose, as you've added some other good cards subsequently. So long as your util is in good shape, closing it sounds like the right thing to do.
Thanks a lot for the advice.
You're right, that card definitely has served its purpose.
It helped establish some good history (credit wasn't always great)
and helped for recon when Barclay initially declined me.
Let the Cap-1 report for a full 2 years prior to closing you get better FICO results if you do.
@gdale6 wrote:Let the Cap-1 report for a full 2 years prior to closing you get better FICO results if you do.
Why? It will remain on the CR for up to 10 years.
It seems as if you've outgrown the Cap One card. However, if you did want to keep it, for some strange reason, have you tried all options at getting CLIs or AF waived?
@tr24 wrote:Here's the list of my cards:
Captial One - $500 CL $40 AF
Barclay (Apple card) - $2800 CL No AF
Discover IT - $1,000 CL No AF
Amex BCP - $2,000 $75 AF
Amex PRG - NPSL $175 AF
Chase Freedom - $3,000 CL no AF
The captial one card is my oldest account (about 2 years)
but they suck with CLs. Should I close that account? I
hear it doesn't fully affect AAoA right away. In that case,
the other cards would be able to age and fill the void. Or
am I wrong?
Plus I don't wanna pay $40 annual fee for that crap card with
that terrible limit.
Any advice?
Close the card! It's not serving any purpose but an AF trap. You already have an decent growing credit profile and that card is doing nothing but getting in the way
Thanks for the sound advice guys.
I'm probably gonna close it once my payment clears and the balance is $0.
Applying for the AMEX 61 CLI in march, this wouldn't hurt my chances for any reason right?
@tr24 wrote:Here's the list of my cards:
Captial One - $500 CL $40 AF
Barclay (Apple card) - $2800 CL No AF
Discover IT - $1,000 CL No AF
Amex BCP - $2,000 $75 AF
Amex PRG - NPSL $175 AF
Chase Freedom - $3,000 CL no AF
The captial one card is my oldest account (about 2 years)
but they suck with CLs. Should I close that account? I
hear it doesn't fully affect AAoA right away. In that case,
the other cards would be able to age and fill the void. Or
am I wrong?
Plus I don't wanna pay $40 annual fee for that crap card with
that terrible limit.
Any advice?
It'll be 10 years before the account drops off your CR, if it doesn't do anything for you close it. Shouldn't affect much if anything at all.
Closing the Cap One card should not hurt your chances for the Amex CLI.
I was also wondering like someone above. Have you tried to waive the AF, convert the card or get a CLI with the Cap One? Or do you just want to get rid of it (can't blame you if you do!)?