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So today I was just approved for the Marriott Rewards Premier Visa card. It is my first high CL unsecured card. THat being said I have no use for some of my other cards, because I will be using this one for the benefits they offer. I still have my Capital One secured card. Being that I won't be using this, should I close it out? Or should I just let it be.
I'll add that prior to today, I tried to get Capital One to upgrade my card to one with rewards. THey refused to do so after having the card with them for about 3 years. I was never late and have had perfect payment history. with them and all of my other cards. So it was time to part ways from them!
@mebell wrote:So today I was just approved for the Marriott Rewards Premier Visa card. It is my first high CL unsecured card. THat being said I have no use for some of my other cards, because I will be using this one for the benefits they offer. I still have my Capital One secured card. Being that I won't be using this, should I close it out? Or should I just let it be.
I'll add that prior to today, I tried to get Capital One to upgrade my card to one with rewards. THey refused to do so after having the card with them for about 3 years. I was never late and have had perfect payment history. with them and all of my other cards. So it was time to part ways from them!
Grats on your new card If you have no use for the secured card and it appears that it has done its job I see no problem in closing it out. You do want to be sure to keep at least 3 bankcards open at minimum for best FICO score results.
@gdale6 wrote:
@mebell wrote:So today I was just approved for the Marriott Rewards Premier Visa card. It is my first high CL unsecured card. THat being said I have no use for some of my other cards, because I will be using this one for the benefits they offer. I still have my Capital One secured card. Being that I won't be using this, should I close it out? Or should I just let it be.
I'll add that prior to today, I tried to get Capital One to upgrade my card to one with rewards. THey refused to do so after having the card with them for about 3 years. I was never late and have had perfect payment history. with them and all of my other cards. So it was time to part ways from them!
Grats on your new card If you have no use for the secured card and it appears that it has done its job I see no problem in closing it out. You do want to be sure to keep at least 3 bankcards open at minimum for best FICO score results.
+1
Thank you both for the valued input! I did not want it to negatively effect my credit, but as I said have no need to use that card with the high interest and no benefits.
@gdale6 wrote:
@mebell wrote:So today I was just approved for the Marriott Rewards Premier Visa card. It is my first high CL unsecured card. THat being said I have no use for some of my other cards, because I will be using this one for the benefits they offer. I still have my Capital One secured card. Being that I won't be using this, should I close it out? Or should I just let it be.
I'll add that prior to today, I tried to get Capital One to upgrade my card to one with rewards. THey refused to do so after having the card with them for about 3 years. I was never late and have had perfect payment history. with them and all of my other cards. So it was time to part ways from them!
Grats on your new card If you have no use for the secured card and it appears that it has done its job I see no problem in closing it out. You do want to be sure to keep at least 3 bankcards open at minimum for best FICO score results.
@gdale6 wrote:
@mebell wrote:So today I was just approved for the Marriott Rewards Premier Visa card. It is my first high CL unsecured card. THat being said I have no use for some of my other cards, because I will be using this one for the benefits they offer. I still have my Capital One secured card. Being that I won't be using this, should I close it out? Or should I just let it be.
I'll add that prior to today, I tried to get Capital One to upgrade my card to one with rewards. THey refused to do so after having the card with them for about 3 years. I was never late and have had perfect payment history. with them and all of my other cards. So it was time to part ways from them!
Grats on your new card If you have no use for the secured card and it appears that it has done its job I see no problem in closing it out. You do want to be sure to keep at least 3 bankcards open at minimum for best FICO score results.
Thanks again! I also forgot to ask, how would this affect AAoA? Are only open accounts use to factor in? Or say, if it is right at about 3 years old, will it continue to be looked at as 3 years for that particular account over the course of it being reported?
haha I could only hope, I still would close out. As said 3 years of being with their secured card and making payments on time. Never had high balances either. I called probably 5 different times about upgrading the card and always got mixed responses back. Some said they don't upgrade their secured cards. Other said they do periodic reviews and that they will offer it to me automatically if it meets requirements when they do their reviews. If I can get a nice card with another company how come they wouldn't upgrade to a better card with their company when I have been with them for so long is beyond me! I am done with Capital One
Awesome, thanks. Yeah for all the runaround I get regarding if or when they do, I just decided to go with a different creditor for a new card. But I honestly think you are right, that they do not graduate. If they do, I should have gotten an unsecured graduation and higher CL a long time ago.