Close it or let it open?

slicemans · ‎01-09-2015

I have three cards

First card I opened is capital one secured on April 2014

7 months old

$801 limit

Second is bank of america secured card july 2014

5 months old

$300 limit

third is discover student I recently opened december 2014

limit is $1500

FICO score from discover is 720

So here is my question. Should I close the capital one secured card? or wait until the bofa card unsecures to do it?

I am going to convert to better balance.

Anonymous · ‎01-09-2015

I say leave it open and try to graduate it to an unsecured at some point in 2015.

Anonymous · ‎01-09-2015

@slicemans wrote:
I have three cards

First card I opened is capital one secured on April 2014
7 months old
$801 limit

Second is bank of america secured card july 2014
5 months old
$300 limit

third is discover student I recently opened december 2014
limit is $1500

So here is my question. Should I close the capital one secured card? or wait until the bofa card unsecures to do it?
I am going to convert to better balance.

Leave the CapOne open until next AF at least.

Anonymous · ‎01-09-2015

Close it 2 months in advance of the annual fee. However, if you aren't going to use it at all, you might as well close it now. It really depends on how much of your spend you're going to put through the Discover card. At the latest, however, I would close it 2 months in advance of your next annual fee.