@Anonymous wrote:
@CA4Closure wrote:I have a Capital One Mastercard I want to close. However, it is my oldest account at 18+ years. If I close this account, my AAoA will go way down and affect my credit scores.
The reason I want to close this account due to the Annual Fee ($60) and low credit line.
I want to get a credit card with better rewards. What are my options?When my secure card graduated, i sent an email to the Cap1 EO email (i googled it) and asked to be changed to a Quicksilver that has no AF. I got a call a few days later and they were more than happy to do it. Other than that, you could call and ask, as you've had the acct a long time so they maybe willing to change it over the phone.
As for the limit, you can try that as well, but with no AF and throw a $5 charge at it once every 6 months and you'd be golden
Edit: OP, I encourage you to consider the advice of others in the thread. My suggestion could cost a lot of points, since your accout is very old and the fact that some lenders do not consider closed accounts for approval. 
+1. OP, also remember that closed accounts remain on your credit reports for up to 10 years. Here is a quotation from creditcards.com:
"Although accounts don’t need to be open, they do need to still appear on your credit report to be counted by FICO. So even if an account was closed five years ago, for example, its continued appearance on a credit report would help extend a borrower’s length of credit. Those closed accounts won’t appear indefinitely, however. Closed accounts that were always paid on time remain on credit reports for 10 years from the date of closure or last account update, while accounts with late payments remain for seven years from the date of first delinquency" (Simon).
@Anonymous wrote:
@Anonymous wrote:
@CA4Closure wrote:I have a Capital One Mastercard I want to close. However, it is my oldest account at 18+ years. If I close this account, my AAoA will go way down and affect my credit scores.
The reason I want to close this account due to the Annual Fee ($60) and low credit line.
I want to get a credit card with better rewards. What are my options?When my secure card graduated, i sent an email to the Cap1 EO email (i googled it) and asked to be changed to a Quicksilver that has no AF. I got a call a few days later and they were more than happy to do it. Other than that, you could call and ask, as you've had the acct a long time so they maybe willing to change it over the phone.
As for the limit, you can try that as well, but with no AF and throw a $5 charge at it once every 6 months and you'd be golden
+1. OP, also remember that closed accounts remain on your credit reports for up to 10 years. Here is a quotation from creditcards.com:
"Although accounts don’t need to be open, they do need to still appear on your credit report to be counted by FICO. So even if an account was closed five years ago, for example, its continued appearance on a credit report would help extend a borrower’s length of credit. Those closed accounts won’t appear indefinitely, however. Closed accounts that were always paid on time remain on credit reports for 10 years from the date of closure or last account update, while accounts with late payments remain for seven years from the date of first delinquency" (Simon).
Yes, you are correct that it says ten years, but there are some lenders that DO NOT count your closed cards in credit lending decisions.
Personal choice for me, but i would not close a card that old EVER 
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@CA4Closure wrote:I have a Capital One Mastercard I want to close. However, it is my oldest account at 18+ years. If I close this account, my AAoA will go way down and affect my credit scores.
The reason I want to close this account due to the Annual Fee ($60) and low credit line.
I want to get a credit card with better rewards. What are my options?When my secure card graduated, i sent an email to the Cap1 EO email (i googled it) and asked to be changed to a Quicksilver that has no AF. I got a call a few days later and they were more than happy to do it. Other than that, you could call and ask, as you've had the acct a long time so they maybe willing to change it over the phone.
As for the limit, you can try that as well, but with no AF and throw a $5 charge at it once every 6 months and you'd be golden
+1. OP, also remember that closed accounts remain on your credit reports for up to 10 years. Here is a quotation from creditcards.com:
"Although accounts don’t need to be open, they do need to still appear on your credit report to be counted by FICO. So even if an account was closed five years ago, for example, its continued appearance on a credit report would help extend a borrower’s length of credit. Those closed accounts won’t appear indefinitely, however. Closed accounts that were always paid on time remain on credit reports for 10 years from the date of closure or last account update, while accounts with late payments remain for seven years from the date of first delinquency" (Simon).
Yes, you are correct that it says ten years, but there are some lenders that DO NOT count your closed cards in credit lending decisions.
Personal choice for me, but i would not close a card that old EVER
I agree. Perhaps a product-change would be best for the OP. I did not know that some lenders do not consider closed accounts in credit-lending decisions.
@Anonymous wrote:If it is the Quicksilver One, then I don't believe you can do a product change or get them to drop the AF.
I was able to PC a Quicksilver One to a Quicksilver... it took a while, but they eventually did it. https://ficoforums.myfico.com/t5/Credit-Cards/Capital-One-QS1-to-QS-PC-Finally/td-p/4460966
Also, they will sometimes waive an AF, either the entire fee or half of it, although they can only do it once the fee actually posts (you can't call ahead of time). YMMV, but it never hurts to ask.