Call and see if you can get the AF waived with the implied threat to close it if they won't waive it 
If you can, then it's worth it. Otherwise, $19/yr for an account that is barely helping your AAoA isn't worth it imo.
@Anonymous wrote:As the subject says, I'm thinking about closing my Capital One card. It's a Cap One platinum card, the one with a $19 AF, 750 CL, 24.99% apr.
I'm just not sure if I really have any reason to keep it open. The credit limit is low. With my recent CLI from NFCU, I really don't even remotely need the account. I just have two automatic charges (Netflix and IdentityMonitor) going on that card, but that's the only use it sees now. NFCU and Discover are the cards that stay in my wallet.
And since it's Cap One, the card will probably never see a sizeable CLI, or get PCed to anything useful, and I'll be stuck with an awful APR, an annual fee and no rewards.
I closed my Cap One secured card about a month ago, as well as my Orchard one. Now, I'm wondering why I haven't closed this one yet.
Is there really any reason why I should keep it open? It's my 'oldest' card, but all that means is 13 months. My AAOA is so short that it doesn't really make any difference in the long run anyway. It doesn't give me rewards, and I don't need the CL on it.
Nope, by closing it, you will only lose the $750 limit in your util but you will not lose the age of this account. It may report for up to 10 years.
@CS800 wrote:Nope, by closing it, you will only lose the $750 limit in your util but you will not lose the age of this account. It may report for up to 10 years.
I actually read the stickied post about closing cards and AAOA effectsSo I'm not worried about the AAOA impact. And since I hope to add some prime cards to my portfolio in the next 12 months, it won't really make any difference in 10 years once it does drop off my reports.
I just can't think of any reason to keep it open, but it feels 'wrong' to close the card since it's the first one I got.
@Anonymous wrote:Call and see if you can get the AF waived with the implied threat to close it if they won't waive it
Eh, but is it really worth it? I mean a $750 CL that will probably never budge (since it's a rebuilder card) isn't doing anything for my util % now - and I doubt it'll do anything in the long run either.
Plus I've heard that Cap One doesn't like to waive annual fees.
Come to think of it, they don't really like to do *anything* customer-friendly.
Close it! Close it!
Starting Score: 760YOu know deep down that the possibility of a CLI is close to none. So do yourself a favor and put this card out of its misery
With the cards you have, I'd close Cap1, save some bucks, and be done with it
@Anonymous wrote:
@Anonymous wrote:Call and see if you can get the AF waived with the implied threat to close it if they won't waive it
Eh, but is it really worth it? I mean a $750 CL that will probably never budge (since it's a rebuilder card) isn't doing anything for my util % now - and I doubt it'll do anything in the long run either.
Plus I've heard that Cap One doesn't like to waive annual fees.
Come to think of it, they don't really like to do *anything* customer-friendly.
I was just thinking that in a few years it would be a nice glowing mark on your AAoA. Only worth it if they waive the AF though.