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Hello Team,
I have 3 capital one accounts and im thinking about closing 2 of them in favor of upgrading to big boy cards.
Secured platinum opened in 01/2016 with 651 limit >> kill >> apply for venture
secured platinum opened in 01/2017 with 452 limit >> kill >> apply for savor
I haven't used the cards in years and mainly have them for the Age, they helped me when I was rebuilding but now I have some decent cards for good rewards and don't need them.
Q1: What's more important the age that they bring to the table or the rewards that I would benefit from the new cards.
Q2: Will my score drop when I close 2 accounts?
Q1 - age is scorable / rewards are not
Q2 - probably but, not much if you don't have much utilization on the other cards
I would cull the herd and concentrate on CLI's vs new cards since most of your cards are currently sub 1K
Do a personal inventory of what works, what gets used, and what's worth keeping. Kill off the others and work on the CLI's. Once you hit 5K CL's on a couple of cards then it's time to actually start looking at adding another 1-2 cards to the mix as you'll likely get better terms and limits.
@Anonymous wrote:Q1 - age is scorable / rewards are not
Q2 - probably but, not much if you don't have much utilization on the other cards
I would cull the heard and concentrate on CLI's vs new cards since most of your cards are currently sub 1K
Do a personal inventory of what works, what gets used, and what's worth keeping. Kill off the others and work on the CLI's. Once you hit 5K CL's on a couple of cards then it's time to actually start looking at adding another 1-2 cards to the mix as you'll likely get better terms and limits.
What obscure expert said