I'm wanting to close my Capital One Platium card that I opened Nov 2020. Since it's not even a year old, would there be any damage besides giving Apple the same reason to deny me a card? (Tongue in cheek, looking at you Goldman.) Points wise any damage? Would this effect CLI with Navy? I've always regretted getting this card and the way Kohl's/Capital One have treated me, I'm just over Capital One.. I also haven't used the card since March..
@pizzadude wrote:
@Rottweilerlvr wrote:I'm wanting to close my Capital One Platium card that I opened Nov 2020. Since it's not even a year old, would there be any damage besides giving Apple the same reason to deny me a card? (Tongue in cheek, looking at you Goldman.) Points wise any damage? Would this effect CLI with Navy? I've always regretted getting this card and the way Kohl's/Capital One have treated me, I'm just over Capital One.. I also haven't used the card since March..
A few things to consider:
Does it have an AF ?
What is the CL and how would this impact your revolving utilization ?
I don't know that your other creditors would care, but what is the limit on this card compared to your other cards ?
Closed or open it will still count towards your AAoA
What does AF stand for?
CL is 400 and would have minimal effects on utilization. It's my lowest card.
My open accounts are:
NFCU- 7100
NFCU- 2000 (due for increase this month)
Dell- 5000
Discover- 5000
I'm also an AU on my Mom's Chase Amazon acct. $5000
@dragontears wrote:AF = annual fee
The only risk with closing a young card when your utilization is not going to be effected is appearing as a churner to future lenders. Having one card closed before a year or two likely won't cause issues but if you make a habit of it....
Gotcha.. no annual fee and it's not one with a 0 intro rate or anything. Well, I don't plan on closing anymore cards nor open anything for a bit. I'll probably have a car loan at some point cause my POS is on its last leg but waiting for the market to cool a bit..
If there's no AF then I'd just leave open and put it in the sock drawer. 
@Rottweilerlvr wrote:I'm wanting to close my Capital One Platium card that I opened Nov 2020. Since it's not even a year old, would there be any damage besides giving Apple the same reason to deny me a card? (Tongue in cheek, looking at you Goldman.) Points wise any damage? Would this effect CLI with Navy? I've always regretted getting this card and the way Kohl's/Capital One have treated me, I'm just over Capital One.. I also haven't used the card since March..
Unless it would hurt your aggregate utilization numbers, no there's no damage from closing it.
@Rottweilerlvr wrote:
@pizzadude wrote:
@Rottweilerlvr wrote:I'm wanting to close my Capital One Platium card that I opened Nov 2020. Since it's not even a year old, would there be any damage besides giving Apple the same reason to deny me a card? (Tongue in cheek, looking at you Goldman.) Points wise any damage? Would this effect CLI with Navy? I've always regretted getting this card and the way Kohl's/Capital One have treated me, I'm just over Capital One.. I also haven't used the card since March..
A few things to consider:
Does it have an AF ?
What is the CL and how would this impact your revolving utilization ?
I don't know that your other creditors would care, but what is the limit on this card compared to your other cards ?
Closed or open it will still count towards your AAoA
What does AF stand for?
CL is 400 and would have minimal effects on utilization. It's my lowest card.
My open accounts are:
NFCU- 7100
NFCU- 2000 (due for increase this month)
Dell- 5000
Discover- 5000
I'm also an AU on my Mom's Chase Amazon acct. $5000
No harm in closing it.
No harm in keeping it open either.
@pizzadude wrote:If there's no AF then I'd just leave open and put it in the sock drawer.
^ I second this.