Should I Close Secured for new Unsecured?

[Anonymous]

I have a secured visa ($1500) with my credit union which happens to be my oldest account (2 years) I asked to see if it could be "unsecured" and they said I would have to apply and that they do not do PC (product change?) so it would be a new account with no history and I cannot keep both accounts. I was approved for an unsecured card with a $2000 limit.
So I would start with a new account and have $1500 to save from the old account.
Is it worth risking the history? how badly would my score be affected? (theoretically)

I have a total of 14 CC with 14k limits total and the next oldest account is 1yr 10 mths
I plan to buy a house in 6 to 12 mths so I dont want my score to go too low.

do not plan to have anymore inquiries or pulls until I buy a house

[Grafton88]

That secured card will stay on your report for 10 years so you won't take a hit.  In 10 years when it falls off, your AAOA will be so good it won't affect you to any degree.

[Anonymous]

thank you, I was not aware of how aaoa worked I will take the offer for the new card.. sweet!!

[Grafton88]

Glad to help.  There is a wealth of good information on this board.  I am learning new things every day.

[RonM21]

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@Grafton88 wrote:

Glad to help.  There is a wealth of good information on this board.  I am learning new things every day.

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Lol I jist posted on another thread this same thought. I'm always learning something new on here!

[Grafton88]

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@RM21 wrote:

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@Grafton88 wrote:

Glad to help.  There is a wealth of good information on this board.  I am learning new things every day.

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Lol I jist posted on another thread this same thought. I'm always learning something new on here!

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You know what they say, "Great minds think alike".