Close Capital One?

youngandcreditwrthy · ‎01-10-2014

I have absolutely had enough crap from Crapital One.
I know my credit ego is big LOL
So I 've contacted the EO twice about reducing my APR of 17.9% to something more like 9-10%(it varied from 9-12% before the silly CARD Act) and increasing my $5,000 cl to something more like $10k. They have declined to budge at all either time.

I have absolutely no use for this card! I can't carry a balance bc of the APR, the rewards SUCK, and I'm just tired of dealing with them. It is, however, my oldest tradeline dating back to 2006.

If I close it, will there be any effect at all on my aaoa? Current aaoa is 3+ years. I know it won't affect my util LOL

I just have no use for this card(weird for me as I can find value in anything!!)
I feel entirely disrespected as their Customer ya know??

Would it affect my FICO? I know yall say it won't but I really just don't know.

enharu · ‎01-10-2014

It will affect your utilization, especially since your BofA card continues to remain maxed out. That's bout it pretty much.

My suggestion is to keep it open but leave it inactive.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).

red259 · ‎01-10-2014

If your not happy with it just close the card. I'm happy with my capital one experience and doubled my credit line by contacting EO. I don't carry balances so I don't even know what my apr is. It will stay on your credit report for years so it will not impact your AAoA immediately and by the time it does your other cards will be significantly older so the impact will probably be minimal. With your other tradelines I don't think you really need to worry about much of an impact. Bottom line is that if you are unhappy with the card get rid of it. Nobody is forcing you to be their customer and I don't think the card is doing much for you anyway.

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019

AndySoCal · ‎01-10-2014

I would say keep it open and in a nice sock drawer.

FIC Scores XPN v8 808 V2 831 (SDFCU) TUC V 8 803 07/25 EFX Bankcard v8 822 EFX FIC0 v8 800 Vantage score 4.0 817 via JC Penney
JC Penney 10/2008 4,700 US Bank Cash 08/2010 12,000 Citibank Custom Cash 5/2015 11,100 State Dept. FCU 06/2023 25,000 02/2024 Redstone FCU Signature VISA 10,000 08/23/2024 Commonwealth Credit Union 15000 07/25
Banking: Lafayette FCU Fortera FCU State Department FCU Redstone FCU Hughes FCU Commonwealth FCU
My personal blacklist Axos Bank, Bank of America, Synchrony Bank Capital One TD Bank Comerica Bank BMO US Bank Wells Fargo

red259 · ‎01-10-2014

@AndySoCal wrote:
I would say keep it open and in a nice sock drawer.

Its the venture card so I think there is an AF unless cap 1 was willing to waive it, so that may be a reason to close it.

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019

youngandcreditwrthy · ‎01-10-2014

Enharu... $5,000 out of like $150k+ in credit is quite dismal... Barely any impact. Thanks for the input though. Hah. And I've paid my BOA down to about $8000. Almost below 80%! Lol

I was able to get a $3700 cli around this time last year, but I mean... It's just useless all around.

Thanks for the advice andy and red. I really wouldn't want it to say "closed by credit grantor" either though. Heh

enharu · ‎01-10-2014

If you think it won't really matter, then just close it.

JPMorgan Palladium (100k), AmEx Platinum (NPSL), AmEx SPG (46k), AmEx BCP (42k), Chase Sapphire Preferred (47k), Citi Prestige (31k), Citi Thank You Preferred (27k), Citi Executive AAdvantage (25k), JPMorgan Ritz-Carlton (21k), Merrill+ (15k), US Bank Cash+ (22.5k), Wells Fargo (12k), Bloomingdale’s (12.4k), Chase Freedom (5k), Discover IT (5k).

youngandcreditwrthy · ‎01-10-2014

I am right though right?
Aside from your usual contentions, I have adequate reason to believe there would be minimal impact on my FICOs, right? Lol

red259 · ‎01-10-2014

Are you paying an AF on this card?

;
Starting Score: EQ: 714, TU 684
Current Score: EQ: 725 7/30/13, TU 684 6/2013, Exp 828 5/2018, Last App 8/5/17
Goal Score: 800 (Achieved!) In garden until Sepetember 2019

youngandcreditwrthy · ‎01-10-2014

Nah. There's no AF.