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@JonStur wrote:
@maiden_girl wrote:Why is everyone closing their cards? If its unsecured and there's no annual fee...I'd keep it open. It will help with UTL and AAoA. CAP1 is my oldest tradeline and although I don't particularly like the card anymore, it helped me get my foot in the door and on to better cards. I won't be using it anymore. It has served its purpose but I definitely won't be closing it.
+1000 Unless there is some outrageous AF, keep it open especially if you have a thin credit file. Also, there might not be a large credit line but it still will help your overall utilization. It is up to you but I would suggest closing your card for business not emotional reasons.
It purely business, I am just more or less pissed with them atm. Its a 3k secured card that i have had for years and has af. my AAofa will not take to much damage .I will stll have 12 active tradelines with this account closed. Utl is not a concern it at 1% atm and it not going anywhere. I have no need to use my existing credit lines besides just showing activity.
TU 715 No apps to 05/13 cash+ 5/13!!! 738 TU CSP April 13!!!CSP approved May 13!!!
@toppers555 wrote:
@JonStur wrote:
@maiden_girl wrote:Why is everyone closing their cards? If its unsecured and there's no annual fee...I'd keep it open. It will help with UTL and AAoA. CAP1 is my oldest tradeline and although I don't particularly like the card anymore, it helped me get my foot in the door and on to better cards. I won't be using it anymore. It has served its purpose but I definitely won't be closing it.
+1000 Unless there is some outrageous AF, keep it open especially if you have a thin credit file. Also, there might not be a large credit line but it still will help your overall utilization. It is up to you but I would suggest closing your card for business not emotional reasons.
It purely business, I am just more or less pissed with them atm. Its a 3k secured card that i have had for years and has af. my AAofa will not take to much damage .I will stll have 12 active tradelines with this account closed. Utl is not a concern it at 1% atm and it not going anywhere. I have no need to use my existing credit lines besides just showing activity.
Way to go!!!
If I'm new to credit would Cap 1 be a good idea, or should I just stay away from it all together
@ Sitori, IF you are new to credit they can be a great credit builder, just dont expect too much growth with them....
congrats CAP 1 can be a bear if you expect too much out of them
@frugalQ wrote:
Congrats to OP..
I thought closed card continue to be calculated in AAoA until it falls off of credit report. Can someone clarify this?
Thx!
The age of the account is factored into your AAoA even if the account reports closed. But it will not factor into your overall UTL b/c the credit is no longer available.
I closed my Capital One account ($1250 CL), 22.9% interest rate, and a $36 AF. I asked for a CLI, no go, so it was paid off, and I closed it. The CSR didn't even try to get me to keep from closing it. I received notice yesterday that Cap 1 was closing my HSBC card for non use ($1100 CL, & 22.9% IR).....Oh well!
@jwduke wrote:I closed my Capital One account ($1250 CL), 22.9% interest rate, and a $36 AF. I asked for a CLI, no go, so it was paid off, and I closed it. The CSR didn't even try to get me to keep from closing it. I received notice yesterday that Cap 1 was closing my HSBC card for non use ($1100 CL, & 22.9% IR).....Oh well!
How long had you had the card and not used it? I ask b/c I have a Cap1 card I no longer use...lol.