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Close old card?

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OniStringer
Regular Contributor

Close old card?

So to give some insight, I only have 1 derog left on my report. Its an auto loan late payments string, well multiple strings, that start falling off this month, the last string will fall off Sep 2024, so I have just accepted that I will have to wait for that. Goodwill hasnt had any success, I have been trying though. I am just trying to clean up my card line up in preparation for when my final derog gets removed. 

 

My current card ages are as follows 

Amazon Prime Rewards -  3 months

Apple Card -  9 months

Discover IT -  2 months

Capital One SavorOne - 4 years 

Capital One Platinum (OLDEST CARD) 5 years 3 months

Walmart Rewards - 11 months 

 

I was thinking of closing my platinum, as I dont use it, as far as total utilization, I am good on that as well. I know I am going to be in the garden for at least the rest of 2023 to let everything age together. 

 

My question is, is there any harm to closing my platinum? I would like to just kind of clean everything up. 

 

Any insight is much appreciated. 

Started with LOW 500s - Actively rebuilding as of early 2019
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4 REPLIES 4
GZG
Valued Contributor

Re: Close old card?

have you tried product changing it into a quicksilver?

Starting FICO 8:
Current FICO 8:


2/6, 3/12, 11/24
Message 2 of 5
OniStringer
Regular Contributor

Re: Close old card?


@GZG wrote:

have you tried product changing it into a quicksilver?


I actually had the quicksilver, in which just became the savorone, which fits my spending a lot more.

Started with LOW 500s - Actively rebuilding as of early 2019
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Message 3 of 5
Apexdv
New Contributor

Re: Close old card?

If there is no AF then just keep it in the sock drawer. It will continue to report regulary and add to your profile. Throw a coffee on it every other month or so to keep it active and the continuous monthly reporting of an active positive tradeline will certainly help boost your profile. Just my 2 cents but other more experienced may have a better suggestion.

Mission Lane Visa 850, Credit One AMEX 800, kikoff Revolver 2500, Destiny MC 300, CareCredit/Synchrony 1000, Amazon/Synchrony 900
Starting Scores
Current Scores
Message 4 of 5
OniStringer
Regular Contributor

Re: Close old card?


@Apexdv wrote:

If there is no AF then just keep it in the sock drawer. It will continue to report regulary and add to your profile. Throw a coffee on it every other month or so to keep it active and the continuous monthly reporting of an active positive tradeline will certainly help boost your profile. Just my 2 cents but other more experienced may have a better suggestion.


Yeah thats pretty much where I am with it now. Was just curious what others opinions are on things like this. Thanks for the input!

Started with LOW 500s - Actively rebuilding as of early 2019
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Message 5 of 5
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