I have a Cap One Secured Card I'm Not Using. Close it ?

[ScoreOrBeScored]

Hi, I have Cap One Secured card that was opened March 2013 with a $49 deposit for a $200 CL.

I Put $200 deposit on card and was given $100 Auto increase. So That's $249 I have tied up with this card. 

The  last time I used the card was for dinner in August 2014 and it's been at $0 ever since. I have no use for it

 as I currently have $40k CL total spreaded out over ithers cards.

the annual fee is coming due in March 2015. When is best time to close it ? Close it before I get all the green "OK" boxes filled on reports ? 

[TRC_WA]

Best time to close it was yesterday.

[kdm31091]

You should definitely close it and move on. You state you have no use for it. And clearly you wouldn't have a use for it if you have $40k in credit elsewhere.

Anyway, it's at 0 and has been for months, so you can close it at any point. It's going to report as green for each statement you paid/the zero months.

[coldnmn]

Now in my opinion. It will report as a positive trade line for ten years even closed. It served it's purpose.

[ScoreOrBeScored]

Lol @ yesterday..I will do it today for sure. It's gonna feel good just like it did when I closed credit One in July 2014. Last time credit one reported after closing

was Oct. 2014. Oh well..thank YALL for the responses.

[Anonymous]

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@TRC_WA wrote:

Best time to close it was yesterday.

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+1

[ScoreOrBeScored]

Okay YALL, I just called and closed my account. 

{{{Feels Good}}}

[-Wade-]

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@ScoreOrBeScored wrote:

Okay YALL, I just called and closed my account. 

{{{Feels Good}}}

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That was a great move Congrats

[ScoreOrBeScored]

Thank you Wade

[Anonymous]

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@-Wade- wrote:

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@ScoreOrBeScored wrote:

Okay YALL, I just called and closed my account. 

{{{Feels Good}}}

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That was a great move Congrats

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Good feeling to close unused cards!