Should I close

[Anonymous]

So I have a question on rather or not I should close my BoA secured credit card.  I've had the card for about 4 years, it doesn't have a high CL it's only $300.  Since I got my tax money I was paying it off, but due to the changed on credit card that added an annual fee on this card of $29 dollars.  I don't want to mess up my average age of accounts since I know that's key to have a better credit score.

I also have two other credit cards which aren't secured credit cards at all which are listed below.

*RZMC that have a low CL on of $100, but no annual fee which was given to me thought an employee perk program which I've had for about 2 and a half years.  I've tired to ask about how or if they offer CLI on this credit card but never get an answer.

*Capitol One card which started with a CL of $300 which went up to $500 within 6 month of on time payments which I've had this card for about a year now, but it also had an annual fee sadly.

Any advise would be amazing, I would love to know have any credit card with an annual fee, but sometimes I know that's the penalty for poor credit.

[laz98]

will BOA let you add more money to your card to raise the limit?

[Anonymous]

Yes they will.

[laz98]

then you should be able to raise the limit to whatever you want, at least in theory, right?  no need to continue having a low CL.  perhaps if you had a higher CL, it would not feel as bad paying the $29.

[Anonymous]

4 Years and it's still a secured card have you asked to have it unsecured? 

[Anonymous]

Yes I have an they won't do it, they've told me I would have to close this account and apply for a new card, but it doesn't mean that I'll be approved.

[laz98]

do you know what your real FICO scores are?  if you don't think you can get approved for another card, i would just add money to the secured card.

[Anonymous]

Well I just checked and it looks like my Trans dropped quit a bit sadly.

[Anonymous]

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@Anonymous wrote:

Yes I have an they won't do it, they've told me I would have to close this account and apply for a new card, but it doesn't mean that I'll be approved.

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I would think you could apply for a BofA card without closing the account.    If they approve good, if not I would keep the secured card.    $29 is reasonable fee for bank secured card.   If you increase the deposit to get a higher CL reporting, it might help you get a better CL in the future on other cards.

[Creditaddict]

I think you have to be above 650 to get them to unsecure.  What is keeping your scores so low after 4 years?