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Closing Capital one secure card

Dwade
Established Member

Closing Capital one secure card

Good evening guys 

I need some advice, and you guys are the go to for info. Im on the journey of rebuilding my credit. My question is, should I keep my capital one secure card open when at this point they are not graduating card to secure at the moment. The cards that I actively use now are chase freedom, discover it, and was just approved for Amex cash magnet. Thanks for all the advice given.

Message 1 of 16
15 REPLIES 15
AllZero
Mega Contributor

Re: Closing Capital one secure card

Yes. You got your 3 revolvers. Clear to close. Congrats!

Message 2 of 16
angelwingz
Valued Contributor

Re: Closing Capital one secure card

Agreed with AllZero! You have 3 revolvers now, all from really good lenders. With that said, I don't think there's any use for a secured card with your lineup now. I think you'd be safe to close!




My Cards:






Profile Type: New, Thick, 100% Clean
INQ's: EQ: 0 TU: 1 EX: 3 (last 12 mo.)
Recent Accounts: 4 (last 24 mo.)
Total CL: 28.95k Util. 3% AAoA: 1yr, 8mo.
AoOA: 2 yrs, 8 mo. AoYA: 0 mo. 100% PIF.





myFICO Member since: July 21, 2018 | Joined Community: Aug. 17, 2018 | Starting Scores: EQ: 716 TU: 738 EX: 698
Message 3 of 16
M_Smart007
Legendary Contributor

Re: Closing Capital one secure card

I'll give you a pre-congrats on closing itSmiley Happy

Message 4 of 16
Dwade
Established Member

Re: Closing Capital one secure card


@AllZero wrote:

Yes. You got your 3 revolvers. Clear to close. Congrats!



Thanks for the advice 

Message 5 of 16
Dwade
Established Member

Re: Closing Capital one secure card


@angelwingz wrote:

Agreed with AllZero! You have 3 revolvers now, all from really good lenders. With that said, I don't think there's any use for a secured card with your lineup now. I think you'd be safe to close!



Thank you I appreciate the advice 

Message 6 of 16
Dwade
Established Member

Re: Closing Capital one secure card

Thank you guys I appreciate the advice! I will be closing tomorrow. Might I add, my credit limit is $1300 so I want my money back Lol 

Message 7 of 16
CardNut
Valued Contributor

Re: Closing Capital one secure card

Ready, set, close. 

 

That's because you have some great cards that will grow nicely. 

 

Congrats.  

Scores, HPs/24 mos. (updated 01/13/21):
    Experian FICO Score 8 = 828, 1/24
    Experian FICO Score 9 = 813, 1/24
   TransUnion = 811, 1/24
    Equifax = 813, 0/24

Total 2020 rewards, incl. offers/deals = $1,388.00

Total CL: $247,000

Cards (hover over for CL | interest rate | Date Opened):
Message 8 of 16
KJinNC
Valued Contributor

Re: Closing Capital one secure card

Yes, close. There's no harm in doing so. It's just tying up cash. It will stay on your CRs for about a decade, so you won't lose account age by closing it. JMO, good luck!



FICO Resilience Index: 64. Cards: 5/24, 2/12, 2/6. Accounts including loans: 8/24, 4/12, 3/6. Card CLs total $213,900, or $240,400 including the AU card. Cards (oldest to newest)

Authorized user / Corporate / Auto loans / Personal loan
Message 9 of 16
joshk4u
Valued Member

Re: Closing Capital one secure card

Does it hurt to keep the cap one secure card open ?

Would love some insight on this topic ! Congrats on your rebuilders.  

Message 10 of 16
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