closing a capital one card to open a new one

[Kannon33]

Hello 

Not sure what to do here i have a capital one card through union plus that offers barely any benefits and i am thinking of closing it out and waitting to maybe get a better card in the future with them.

Long story short during my rebuild process i got a lil carried away and got this union plus card, a walmart card and 2 quicksilverone cards with capital one not knowing about their 4 card limit and not knowing what i was really doing.

the past 4 months i have used all cards and have a 0 monthly statement balan, my score has gone up alot since about 50 points to the 625 range.

any help will be appreciated 

[SouthJamaica]

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@Kannon33 wrote:

Hello 

Not sure what to do here i have a capital one card through union plus that offers barely any benefits and i am thinking of closing it out and waitting to maybe get a better card in the future with them.

Long story short during my rebuild process i got a lil carried away and got this union plus card, a walmart card and 2 quicksilverone cards with capital one not knowing about their 4 card limit and not knowing what i was really doing.

the past 4 months i have used all cards and have a 0 monthly statement balan, my score has gone up alot since about 50 points to the 625 range.

any help will be appreciated 

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I think it's better to just keep it and use it now and then. You might be able to change it for another card at some point.

[Jnbmom]

I agree with @SouthJamaica  I don't think that's a good idea at all . You  wil incur 3 HPs and with your scores  you will probably get another low limit card .

[DoppelgangerD]

I'd keep the U+ card, even if it's useless, to help to rebuild your credit.

Just put a small charge on it every couple months to keep it active for now.

Can you share what your credit limits are for the 4 cards you have?... along with the exact age of each account in years/months?I t'd help with advice.

To be honest, your scores are subprime and you're likely better off just using the cards you have for a while.

How did you end up with 2 QS1 cards?

Do they have annual fees?

As others have said though, do NOT apply for a new C1 card.

Boyond making AAoA go down, it's also a triple pull and you don't need any of those things right now, because it'll only make your scores go lower.

I know it's hard. You want to be proactive. I've been there and it sucks, because the biggest factor that's going to help you right now is time.

If you listen to advice here, you'll be fine, just try to be patient.

[JSUB]

Precisely. I recently added a Savor One I didn't need. The CL was nice but not worth those 3 HP staring at me for the next 2 years even if after 12 months they don't count. I wish I hadn't gotten it. Live and learn. 

[Rogue46]

Any reason you're only wanting only Cap1 cards? There are plenty of others out there and honestly its generally not a great idea to keep all your eggs in one basket. 

[Anonymous]

AFAIK the QS1 cards are $39 annual fee. I would be more apt to do something about those rather than the $0 annual fee Union Pay.

And then there is the possiblity of being offered a product change.

Here is a quick link

https://verified.capitalone.com/auth/signin?Product=Card&Action=ProductUpgrade

And I agree with all replies so far.

[DoppelgangerD]

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@Anonymous wrote:

AFAIK the QS1 cards are $39 annual fee. I would be more apt to do something about those rather than the $0 annual fee Union Pay.

And then there is the possiblity of being offered a product change.

Here is a quick link

https://verified.capitalone.com/auth/signin?Product=Card&Action=ProductUpgrade

And I agree with all replies so far.

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Yep, and if he can PC one of the cards with no AF, then maybe also combine the credit lines, and possibly close the redundant one. Maybe..

That is, if he replies back with more info.

[ptatohed]

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@Anonymous wrote:

AFAIK the QS1 cards are $39 annual fee. I would be more apt to do something about those rather than the $0 annual fee Union Pay.

And then there is the possiblity of being offered a product change.

Here is a quick link

https://verified.capitalone.com/auth/signin?Product=Card&Action=ProductUpgrade

And I agree with all replies so far.

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I played just for fun.  My Savor One is eligible for Quicksilver, Venture One, and Venture.  No thanks.  lol 

My Walmart had no 'upgrades' available.  

[Kannon33]

ty for the reply.

honestly i dont remember how i endeded up with 2 qs1 cards, i think i got a little excited.

this past year i have been finally reading the forums here and applying what i have learned and making sure my statements end with a 0 balance 

here is my cap 1 cards limit and age

qs1-500limit opened 2 and a half years ago

walmart-500 limit opened 2 years ago

union plus-300 limit opne 1 year 11 months ago

qs1-300 limit openend a year and 4 months ago