When to kick the Cap 1 bucket

[ibebarrett]

Hey guys, I'm making long term financial plans and trying to determine what to do with my Capital One bucket card. This is my second oldest revolving account that is still open, I opened it 10/2015, and it was my first unsecured card in a long time. Long term I want to get a Chase business card then a CSP then garden for a while, but I'm trying to decide when/what to do with my Cap 1 QS. Do I drop it once I get CSP? Do I throw it in the sock drawer? I highly doubt my SL will grow much more past where it's at now, and I really see no benefits in keeping this card at this point, nor do any other Cap1 cards interest me, so I'm not sure what to do....Here's some background info, thanks in advance!

Opened 10/2015 as Platinum with $300 SL

03/2016 $300>$800

04/2016 $800>$1300

04/2017 $1300>$1450

01/2019 $1450>$1950, then a week later accepted an offer to upgrade to QS.

Since then I've opened the following cards:

01/2019 Care Credit, which has grown from $500 to $9600

04/2019 Chase FU $2800

04/2019 Costco Citi $5500

AAoA(Citi and Chase still not reporting): 42 months

I'm assuming I'll want to keep it at least through when I get a CSP, so as not to kill my AAoA, but then I ultimately think I should just drop it. I don't need it, I get the same cash back rate with FU and plan to take full advantage of the Chase Trifecta, and my QS would just be one more card to keep alive. What do?

[Anonymous]

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@ibebarrett wrote:

I'm assuming I'll want to keep it at least through when I get a CSP, so as not to kill my AAoA, but then I ultimately think I should just drop it.

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Closing a card has no impact at all on your AAoA, as both open and closed accounts count the same.  Once the account falls off your CR, typically 10 years after it's closed, you'll then feel the hit to your AAoA. 

My vote would be to SD the card and take it out to buy a Red Bull or something once every 5-6 months.  I'd let it age.  If you do, a decade+ from now you'll have a 14-15 year old account factoring into your AAoA instead of that account not being there at all.

[ibebarrett]

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@Anonymous wrote:

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@ibebarrett wrote:

I'm assuming I'll want to keep it at least through when I get a CSP, so as not to kill my AAoA, but then I ultimately think I should just drop it.

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Closing a card has no impact at all on your AAoA, as both open and closed accounts count the same.  Once the account falls off your CR, typically 10 years after it's closed, you'll then feel the hit to your AAoA. 

My vote would be to SD the card and take it out to buy a Red Bull or something once every 5-6 months.  I'd let it age.  If you do, a decade+ from now you'll have a 14-15 year old account factoring into your AAoA instead of that account not being there at all.

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That makes a lot of sense, I guess I'll just put that on my iTunes account or some other small recurring bill, thanks!