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Capital One Secured/Ideas Wanted

Regular Contributor

Capital One Secured/Ideas Wanted

Should I get rid of my Capital One Secured card before it gets too old? I don't want to hold on to a secured card forever (which is what it feels like is going to happen) and I feel like it'd be better to get rid of it sooner rather than later. I could however be completely wrong in my logic. Happens more than I'd wish it did, lol.


Cards I currently have:

Discover (now unsecured)

Capital One (Secured)

Capital One Quicksilver

Citi Doublecash

Apple Barclaycard

AmazonPrime Store

Local Credit Union Card


My scores are obviously still fairly low, but I feel like I have plenty of cards/accounts to adequately build my scores, without the need for the Capital One secured card anymore. What do you guys think? What more do you need to know?

Rebuilding -->
Starting Scores -- TU:577, EQ:525, EX:572
Current Scores -- TU:676, EQ:627, EX:622
GOAL -- 700+
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Valued Contributor

Re: Capital One Secured/Ideas Wanted

IMHO, you could PC to another Cap1 when eligible(?) before closing the secured card. Also, depending upon whether closing it will hurt your current UTL% as you’ll lose that CL towards UTL. I believe with Cap1 you are allowed 2 cc’s. Other myFICO Vets may have a different approach(?)


Goal Score: 600(within a year)**MET MY GOAL**
Goal Score: 700(by May/2021)>

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