Close Non Prime Cards...

[Andy77]

I wanted to pay off all my non prime cards (Cap 1, First Premier) and close them.

Doing so, my oldest account would only have a 200.00 limit, if I were to leave a Cap One open I could have a card with a higher limit (1000.00) but it would not be my oldest.

Is it bad that my oldest card has the lowest limit?  Or this does not matter at all?

Thanks

[09Lexie]

No, it doesn't matter and most who were/are rebuilding will be in the same situation.

[azguy13]

I agree with Lexie. Even after closing, the cards will remain on your CR for 10 years so it will not effect your AAoA. CreditKarma will not calculate your closed accounts into AAoA but they really don't matter since its all FAKO anyways. 

[Andy77]

Thank you...I cannot easily find this answer so I will ask this question...Is Barclays Apple Visa Subprime?

Should I close the Barclays?

Thanks

[myjourney]

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@Andy77 wrote:

Thank you...I cannot easily find this answer so I will ask this question...Is Barclays Apple Visa Subprime?

Should I close the Barclays?

Thanks

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I would try to PC YMMV but some have been able to PC to Barclay rewards tho rare

[KeithW]

I didn't realize cap 1 or Barclay were considered sub prime. I thought they were average. Way to ruin my day. lol

[SunriseEarth]

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@KeithW wrote:
I didn't realize cap 1 or Barclay were considered sub prime. I thought they were average. Way to ruin my day. lol

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I don't think most would consider Barclay's subprime.  Cap One has products for people all over the credit spectrum, so they aren't always subprime.

[SunriseEarth]

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@Andy77 wrote:

I wanted to pay off all my non prime cards (Cap 1, First Premier) and close them.

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FP definitely should go, but what's the issue with your Cap One card?

[Credit-hoarder]

Cap 1 IMO used to be sub-prime back when I first got mine 16 yrs ago, but not any more. In fact-I know strongly regret screwing up on them as bad as I did. Some of their cards now require excellent credit just like the prime (Chase, Citi) cards. I doubt if I'd come close to qualifying for a Venture card-LOL. And they're also the CC backer now for Neiman Marcus and Sak's 5th Ave-and those ARE NOT sub-prime stores.

[SunriseEarth]

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@Credit-hoarder wrote:

Cap 1 IMO used to be sub-prime back when I first got mine 16 yrs ago, but not any more. In fact-I know strongly regret screwing up on them as bad as I did. Some of their cards now require excellent credit just like the prime (Chase, Citi) cards. I doubt if I'd come close to qualifying for a Venture card-LOL. And they're also the CC backer now for Neiman Marcus and Sak's 5th Ave-and those ARE NOT sub-prime stores.

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Yeah, I have two Cap One COs (one will fall off in March, and the other one I'm slowing paying on since its there till 2015).  I probably wouldn't have a Cap One account if not for HSBC.  So I've definitely pleased that they're willing to work with me at all.