Capital One (Grr) - Want to Close Limit not Reported - Effect?

[MidnightVoice]

Correct.  But then the card you get today will be 10 years old.

[Anonymous]

Yes but I was thinking more along the card I have that is currently 28 years old..in ten years my next oldest card would NOT be that old which is what gives me such a long history.  They already tried to close it on me twice to change to another account with them...I blew a gasket.  I want to keep that (now) 28 year old card active forEVER is possible : )

[MidnightVoice]

If you only have 2 accounts total, open and closed, that is fine. But if you have mortgages, car loans etc they count all the accounts. How many are on your CR?

[Anonymous]

Grr..what IS it with this message board giving flooding detected errors...still takes me about 20 minutes to post ANY reply due to this?

Anyway..they use not only the AVERAGE length of credit for all cards but also the LONGEST / OLDEST to determine your total length of credit history..in my case that is 28 years.  If THAT card were to drop off the next one I have is 15 years "younger" a HUGE impact on total length of credit file history which is noted as a "for sure" part of the calculation of ALL of the scores.  And explanations all include both...your length of having an active credit file 28 years but say average is 7 years (combining all cards). So yes having only ONE card for the first 15 years works against you if for some reason it goes away / gets closed, etc.  My total length of active credit would only be 12-13 years without it...average down to just under 7 probably.  Depends on WHICH agency you look at I have either 11 or 13 total lines of credit.

[MidnightVoice]

That is all still in the FICO high achiever level

[Anonymous]

I swear the error messages about flooding are gonna be the death of me here

Anyway..that is not good enough when a girl strives to get all three to 850..highEST of the high achievers.  Sure it doesn't affect rates but it's fun to try and get there...

[MidnightVoice]

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ficoscoregirl wrote:

I swear the error messages about flooding are gonna be the death of me here

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PM one of the ASdmins - it is not usually a problem

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ficoscoregirl wrote:

Anyway..that is not good enough when a girl strives to get all three to 850..highEST of the high achievers.  Sure it doesn't affect rates but it's fun to try and get there...

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Once you get all 3 into the high 700s, I don't think it makes much difference    It is fun, but for all practical purposes, it won't get you anything better.

[Anonymous]

I decided to probably NOT close it because when they DO report activity it should INCREASE my score whereas if I cancel it even though only the high balance utilization will be lost (about 1/2 of limit) it will decrease my score.

BUT the question is..they will not likely report MY account to the Big 3 unless  I charge something on it since I haven't done so in over two years.  So I guess I'll charge a flippin' dollar on it after they begin reporting limits, which will cost them more to process the statement, postage, handling, etc. than it will me and FINALLY my score will reflect true limit from these idiots.

That being said..they had the GALL to send me today an offer for a "new" DEBIT mastercard linked to the checking account of my choice.  YEAH RIGHT.  Like I would EVER trust Cap One to link and debit any checking account of mine.

I am going to allow the card to continue to collect dust and make them work for it.  IF HOWEVER they EVER charge me an annual fee..then regardless of effect on my score or not I WILL cancel it and them for good forever!

[Anonymous]

Just checked my Equifax report today and Capital One did show up with a credit limit on both of my cards.  YEAH!