Old Capital One secured card with a tiny limit

[Anonymous]

I have a Cap 1 secured card that is about 6 years old. The limit is pathetic, around $300. I've only kept it because of its age. I now have Discover, Barclay, Amex & Synchrony cards with $2000 + limits and even a QS1 with a $1000 limit. This card is my 2nd oldest open account. Cap 1 has told me there's pretty much nothing they can do with this card to improve it, and the rep all but told me to close it. Will closing it do much damage to my AAoA?

[jacetx]

Closing cards will not affect AAoA since the account remains for 10 years on your reports after closing. The only time that closing a card has a negative impact is when it affects your utilization.

[Anonymous]

It's off to the rubbish bin with this card then. Thanks!

[Anonymous]

Thanks for asking this. I have the exact same issue right now and was trying to figure out what to do with this darn thing. 

[Anonymous]

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@Anonymous wrote:

Thanks for asking this. I have the exact same issue right now and was trying to figure out what to do with this darn thing. 

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You'd think they would offer SOME kind of incentive to keep/use this thing. I even asked the rep, 'What is my incentive to keep this?' and he literally said, 'There's really nothing'.

[Anonymous]

It's just pretty much a card to help rebuild and get into capital one. I remember when I was rebuilding started with that card with a limit of 200 went to 500 after that I was able to open cards with capital one chase Barclay Amex. Discover still doesn't like me even though my score between 685-698

[exCYter]

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@jace8602 wrote:

Closing cards will not affect AAoA since the account remains for 10 years on your reports after closing. The only time that closing a card has a negative impact is when it affects your utilization.

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Or when changing it messes with your credit mix in a way scoring deems negative.  When I cancelled mine I took a big hit and that is the only thing I can figure.  

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

Thanks for asking this. I have the exact same issue right now and was trying to figure out what to do with this darn thing. 

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You'd think they would offer SOME kind of incentive to keep/use this thing. I even asked the rep, 'What is my incentive to keep this?' and he literally said, 'There's really nothing'.

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LOL. Well then, there's that! 

[Anonymous]

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@exCYter wrote:

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@jace8602 wrote:

Closing cards will not affect AAoA since the account remains for 10 years on your reports after closing. The only time that closing a card has a negative impact is when it affects your utilization.

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Or when changing it messes with your credit mix in a way scoring deems negative.  When I cancelled mine I took a big hit and that is the only thing I can figure.  

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Out of curiosity, did you have a pretty thin file at the time?

[Creditplz]

I closed mine a year after I got it, once the rebuilding process is over it has done its job and closing it won't hurt your score.