cancel
Showing results for 
Search instead for 
Did you mean: 

Capital One - My History of Frustration

tag
CA4Closure
Regular Contributor

Capital One - My History of Frustration

In 2000, I applied and received a Capital One VISA. Everything was hunkidory until 2011 when I went through a devastating foreclosure. All the major credit cards immediately closed my credit cards but Capital One. I had rewards and an no annual fee on this card and they removed the rewards and added a $5 monthly fee. They kept the 9.9% APR as a positive note. I needed this credit card for obvious reasons.

Fast forward to today. My FICO score is 824 (all bureaus are reporting between 819 to 842 as of today). I wanted to consolidate this card to a Venture Card so I went into my profile and looked for that link. I have no link on my profile. It disappeared. I had it on there last month. I also have a Quicksilver with a $10k CLI and a 18.9% APR.

Because of how Capital One is treating me, I began using my NFCU Visa Cash Rewards card exclusively since October 2018 spending some $10,000 on it through December. Of course, I paid that card off every pay day. I sock drawered the Capital One cards.

Here is my qestion. Please tell me if it makes sense.

Capital One Platinum is my oldest credit card at 20 years. 0% utilization so i want to close it but am afraid of the big FICO score hit I will be taking. I then want to acquire a Hawaiian Airlines, American Airlines and perhaps a Delta AMEX card. If I am going to pay an annual fee, I rather pay it and reap rewards right? I fly to Hawaii about 10 times a year so Hawaiian Airlines is a given but the latter two cards I am seriously thinking about my options verses the benefits.

Will my FICO score be it hard for closing my two Capital One accounts and how long will the FICO score hit last?

9 REPLIES 9
FireMedic1
Community Leader
Mega Contributor

Re: Capital One - My History of Frustration

Here's the direct URL for upgrade:

https://verified.capitalone.com/sic-ui/#/esignin?Product=Card&Action=ProductUpgrade

It may be classified as a starter/bucket card from then like they do now. If its 20 y/o. What would the next oldest be?


Message 2 of 10
coldfusion
Community Leader
Mega Contributor

Re: Capital One - My History of Frustration

 

What is it about your credit profile that would trigger a large drop in your FICO scores if you closed a card?

 

(5/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 3 of 10
xaximus
Valued Contributor

Re: Capital One - My History of Frustration

The cap1 card is going to stay on your record for 10 years even after you close it. I wouldn't worry about that too much. The cards after the Cap1 should be able to carry the weight in 10 years. I wouldn't stress on it too much.


Scores - All bureaus 770 +
TCL - Est. $410K
Message 4 of 10
Anonymous
Not applicable

Re: Capital One - My History of Frustration

I feel your pain as Capital One is my only card currently ater rebuilding my credit. I am using it to pay my cellphone bill every month and to keep showing payment history. I would personally keep it as it is 20 years and just use it for a small amount 

Message 5 of 10
kilroy8
Community Leader
Super Contributor

Re: Capital One - My History of Frustration

Only way I would close a 20 year old card is if there was a AF and I no longer used/needed it.

Message 6 of 10
AverageJoesCredit
Legendary Contributor

Re: Capital One - My History of Frustration

A 20 year old credit card, wow, you cant buy THAT on Ebay or AmazonSmiley Wink just think in a year, you can take it out for drinksSmiley Wink. I would just sd , even with an af. Lol, most of throw away some cash every year for useless stuff, having a 20 year card is well worth it to me imoSmiley Happy
Message 7 of 10
NRB525
Super Contributor

Re: Capital One - My History of Frustration

If you are flying 10 times a year, consider getting AMEX Platinum. That will get you 5 MR on the airline tickets, and MR can be transferred to either Hawaiian or Delta, and British Airways is a possibility to link to AA.

And I would not sweat the age of the CapOne card, closing it should not be an issue. Just keep in mind that they gave you a chance when all other CCC ran away in 2011.
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
March 2021 $33k on $312k EQ 796 TU 798 EX 801
May 2021 Paid all Installments and Mortgages, one new Mortgage EQ 761 TY 774 EX 777
April 2022 EQ=811 TU=807 EX=805 - TU VS 3.0 765
Message 8 of 10
CA4Closure
Regular Contributor

Re: Capital One - My History of Frustration

Discover Card i added 5 years ago and then a Shell gasoline card at 4 years (2013 and 2014).

Message 9 of 10
Anonymous
Not applicable

Re: Capital One - My History of Frustration

If it still has a fee and can't change to a no fee card then close it. It won't impact your score until 2029 by which time your discover will be 15+ years. Just make sure that one has no fee.

(The loss of some limit well immediately impact you util but age won't)
Message 10 of 10
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.