Should I close my Capital One?

[Crimsonglory]

And I spoke too soon. Capital One offered to upgrade me from the Venture One card I used after my BK7 in 2012 to a Quicksilver or Venture. 

[Anonymous]

When I asked about applying for a new card and closing the old account she said based on my profile I was high risk and she wouldn't think based on my track record I could qualify for their better cards. She didn't say that directly but that's what she basically danced around. I'm not sure what Capital One looks for. So basically what I ended up doing is closing my capital one accounts and I skipped the Discover offer. I applied for the Chase Saphire Preferred and got approved. So I consolidated down to Amex Blue Cash and Chase Saphire Preferred at this point. Chase extended me more than both the older closed cards combined so my overall availabile credit actually climbed by a few grand. Overall happy with the decision and feel more organized with two cards at zero balance and more available credit than before. Seems capital one is harder to move up and to qualify for better cards....but the Chase Saphire preferred was a good offer and I was pre qualified so went that avenue. The $95 annual fee doesn't seem too bad, some of the Amex offers I get for the gold and platinum have outlandish yearly fees. Amex always sends me Platinum card offers and I get a kick out of that $650 fee, that's a big no for me lol.

[NRB525]

Congrats on the new cards. Keeping your wallet to only the cards you want is a good habit to get into. Closing cards that no longer work for you is also a good habit. 

[Anonymous]

Thanks, Chase shocked me, they extended me a $10,000 limit on the Sapphire Preferred right out of the gate. For a comparison by biggest Cap ones were both a $1,000 limit. So my overall climbed 8 grand. I'm sure short term this will ding my score as I had a hard pull and a new opening with two closures all in the same day. But from my understanding the extra 8 grand in capacity should improve the score after 3-4 months of payments. Mind you my housing payment is zero so that is a cheat code on these applications, I'm saving up for a down on a mortgage so still live at home.

[FinStar]

As the OP has provided an update with their Capital One account closure and being approved for a separate CC, this thread is now locked and closed to new messages.