CLOSING SECURED CAP1

[newbiewife]

Help! I just closed my secured account from cap1. 351 limit is that okay? All though my credit is very new. I manage to obtain BOA:10X, AMEX: 12400 DISCO :10500 ZIONS:2500 CHASE:2200 DILLARDS:1800
DO YOU THINK THIS WILL HAVE AN efFECT ON MY CREdit? Oh and 10 mos. History. 721 ex, 742 tu, 730 equi.

[TheClub]

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@newbiewife wrote:
Help! I just closed my secured account from cap1. 351 limit is that okay? All though my credit is very new. I manage to obtain BOA:10X, AMEX: 12400 DISCO :10500 ZIONS:2500 CHASE:2200 DILLARDS:1800
DO YOU THINK THIS WILL HAVE AN efFECT ON MY CREdit? Oh and 10 mos. History. 721 ex, 742 tu, 730 equi.

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I'm not exactly sure why this is a problem. This will have little affect on your CS as it is just a small portion of your UTL.  Also, it will remain on CR and will be factored into your AAOA for at least the next ten years. 

This is something to celebrate as you've alleviated yourself from the dead weight.  Also, CONGRATS on making so much progress so quickly.

Hope this info helps.

[injustifiiable]

You have an AMEX! I wouldn't lose sleep over $351...lol. It'll still report positively for 10 years.

[newbiewife]

not the amount hahhaha... its the history.

[thatoneguy28]

i dont think it will hurt u at all.this card was my first card ever and it helped me get into primeville.i recently got approved for the chase sapphire card.

[myjourney]

Close it and don't look back

[newbiewife]

Oh yeah myjourney you bet not looking back at all! thank you myficoer for all your wonderful opinion. Cap1 closed!

[09Lexie]

As long as you closed it with a zero balance you're fine. Remember, closed accts may stay up to 10 years and will count towards your AAOA.

[myjourney]

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@newbiewife wrote:
Oh yeah myjourney you bet not looking back at all! thank you myficoer for all your wonderful opinion. Cap1 closed!

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Moving on up to bigger and better cards!!!

[newbiewife]

Thanks lexie. It is zero balance. Thats why I'm glad toclose it. its just at first I'm little worried about the history although not much but history is history. And now its finally closed I don't mind losing 351 to be exact. But for that amount I'm thankful.