Cancelling Cap One Cards

[Anonymous]

Morning all,

I have 3 capital one cards with $300 limits. Would my fico score be affected if I close these accounts.

Open dates are :  12/01, 12/03, 02/04?

They all have balances but I am working on getting that paid.

[Tuscani]

Pay them off first. Other than that, you should worry.

[Anonymous]

Keep low utilization. Capital One does its own internal reviews for CLIs, based on your FICO, your payment history, the sunspot cycle, the price of pork bellies in Singapore, sandstorm activity on Mars, and the batting averages of fifteen randomly selected American League players.

[Anonymous]

NWM, you are so funny!!!  You are correct, I just got bumped to $500 from $300 without asking for a review or increase.  Guess I will hold on to them for now.

[Anonymous]

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myhearts07 wrote:

I just got bumped to $500 from $300 without asking for a review or increase.  Guess I will hold on to them for now.

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Do you have other CCs with which you can "scare them"?

[Vapchez]

Reading this thread prompted me to call Capital One.  I currently have a card with a $500 CL and an annual fee.  I told them that my other credit card just increased my credit limit and I was wondering if they could match it or come close.  I was turned down for the credit limit with customer service so I inquired about an interest rate decrease.  I was put in touch with an account specialist.  I told her the same and included that I was no longer sure I was wanted to keep the card.  She said that she could only make one adjustment to the card and suggested a decrease in the interest rate.  I took the interest rate decrease and just went from 23.15% down to 14.9%.  

Message Edited by Vapchez on 07-17-2007 01:52 PM

[Anonymous]

Good on ya!

[Anonymous]

I better get on the phone with Cap one now to try to get my interest rates lowered.  Noah--  I don't have any other cards that I could "scare them" with.  I have a First Premier Bank card cl 500 and the other card was closed by credit grantor.. 

[Anonymous]

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TheNewWorldMan wrote:
Keep low utilization. Capital One does its own internal reviews for CLIs, based on your FICO, your payment history, the sunspot cycle, the price of pork bellies in Singapore, sandstorm activity on Mars, and the batting averages of fifteen randomly selected American League players.

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You kill me!

[Anonymous]

Nice work!!! on the interest rate...

Another MyFICO success story!

Keep fighting the good fight!

Rob