Close Capital One?

[youngandcreditwrthy]

I've had the account since 2006. It was my first card ever. I've maxxed it out few times when it had a 300 limit lol... Even back then they did Credit Steps where I got a cli on my third statement to $500. LOL I'm awaiting that credit to post so I can close 'er down! Lol

[youngandcreditwrthy]

Closed it!

[FinStar]

---

@youngandcreditwrthy wrote:

Closed it!

---

LOL.  Well, the Capital One chapter is closed.

[Open123]

---

@youngandcreditwrthy wrote:
I've had the account since 2006. It was my first card ever. I've maxxed it out few times when it had a 300 limit lol... Even back then they did Credit Steps where I got a cli on my third statement to $500. LOL I'm awaiting that credit to post so I can close 'er down! Lol

---

Not wating for the final step?  

PS - How many steps are there?

[wacdenney]

I recently closed my Merrick card and I had my eye on my old Orchard card also.  My problem is that my 2 Cap One cards are by far my oldest accounts and I cannot take the hit to my AAoA.  I think that's part of their plan!

[FinStar]

---

@wacdenney wrote:

I recently closed my Merrick card and I had my eye on my old Orchard card also.  My problem is that my 2 Cap One cards are by far my oldest accounts and I cannot take the hit to my AAoA.  I think that's part of their plan!

---

It doesn't affect your AAoA per se since any closed accounts would still reflect on your CRs for up to ~10 years (give or take).  You would; however, take a utilization hit depending on your overall balances and net tradeline CLs

[wacdenney]

---

@FinStar wrote:

---

@wacdenney wrote:

I recently closed my Merrick card and I had my eye on my old Orchard card also.  My problem is that my 2 Cap One cards are by far my oldest accounts and I cannot take the hit to my AAoA.  I think that's part of their plan!

---

It doesn't affect your AAoA per se since any closed accounts would still reflect on your CRs for up to ~10 years (give or take).  You would; however, take a utilization hit depending on your overall balances and net tradeline CLs

---

Ahhh....  Great info, Thank you!  I was wondering why the account was still showing,

[youngandcreditwrthy]

So a funny thing happened today... I called the EO to cancel my cli request that they were working on, and the lady said they could re open it for me. I let them know I closed the account. I told them I'll only re open it if i get the CL and APR I want... Haha to be continued... They're going to get back with me.

I may see a 1% jump in util at the most. I just opened a card with 5x the limit of my C1 ($25k Marriott Premier!) ahha so I don't expect any effect on my score since it's still my oldest account and will continue reporting as such.
When I closed my HSBC from 2006 in August, I saw no ding to scores either. It only had a $1700 cl. Lol It's a real shame they have to be like that.

[B335is]

I bet they do something for you.  EO actually combined a closed $1k HSBC card to my Green Cap1 rewards card when I still had it.

Isn't your Mypoints card new-ish?  Why close the older Cap1 card with a bigger limit, but keep the Mypoints card with lower limit and I would assume higher APR?

[FinStar]

---

@youngandcreditwrthy wrote:
So a funny thing happened today... I called the EO to cancel my cli request that they were working on, and the lady said they could re open it for me. I let them know I closed the account. I told them I'll only re open it if i get the CL and APR I want... Haha to be continued... They're going to get back with me.

I may see a 1% jump in util at the most. I just opened a card with 5x the limit of my C1 ($25k Marriott Premier!) ahha so I don't expect any effect on my score since it's still my oldest account and will continue reporting as such.
When I closed my HSBC from 2006 in August, I saw no ding to scores either. It only had a $1700 cl. Lol It's a real shame they have to be like that.

---

Just when we thought the Capital One chapter was closed... NOT with young!  LOL