Capital One Secured Card Changing

[taxi818]

This has been known from day one. You cannot do anything with the secured card. For sure you can't combine it with unsecured. Never been a question about this. I would not close it simply because I could not combine it. In most cases it is ones oldest card. And no amount of money can pay for history. Especially in the credit world. Sure it can stay positive on you report for up to 10 years. But it still would be closed. 29 af is a small price for me to pay each year to maintain my oldest account open. Seeing how I have boatloads of cards with out AF. It's called. Looking long term. But that's me. Close it if you find it useless.

[Anonymous]

well both of my cap cards are small.. secured 300 and unsecured 500. i had secured for 3 billing cycles and unsecured for 2 billing cycles. i use unsecured more because i get rewards with it. i got pre qualified for another cap1 card but i cant get it because i already have 2 cards open. so since i cant combine them. i figured i would close the secured and reapply for the unsecured once its closed. on the unsecured i currently have. each billing cycle i spent about 900 a month. but i pay 1-2 times a week because my limit is only 500. 

any thoughts are appreciated.

[Anonymous]

We find it useless because nothing can be done with the CL unless you deposit funds. In my case my secured is only 3 months older than my QS1 so it wouldn't hurt me to close it.

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@taxi818 wrote:
This has been known from day one. You cannot do anything with the secured card. For sure you can't combine it with unsecured. Never been a question about this. I would not close it simply because I could not combine it. In most cases it is ones oldest card. And no amount of money can pay for history. Especially in the credit world. Sure it can stay positive on you report for up to 10 years. But it still would be closed. 29 af is a small price for me to pay each year to maintain my oldest account open. Seeing how I have boatloads of cards with out AF. It's called. Looking long term. But that's me. Close it if you find it useless.

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[taxi818]

Ok. I have a 800 secured for 3 years. I could care less about the credit limit on 1 card. Whereas I have several over 10k. 1 over 20k. And at least six 5k cards. The only time I look at secured is when the 29 is due. Like I said. History rules. That 300 limit card should not be your main card. But the stepping stone to bigger and better things. You can't make s yugo a Maserati. And you can't make a secured card a visa signature. Keep it or get rid of it. It's a personal decision. But me for one will never close my oldest card based on the credit limit. Good luck in what you choose.

[Anonymous]

def makes sense. thank you