Close Capital One Secured Card

[LadyVee]

Does anyone know if I close my oldest card which is my Capital One secured card, will it have a huge affect on my score.

[OmarGB9]

Not unless it had a significant CL and will lower your available credit and increase utilization dramatically.

[LadyVee]

No it only has a $400 limit. I was actually thinking of closing it and then applying for another unsecured with Cap 1 just so that I still have the amount for utilization

[OmarGB9]

Why not close it and apply for a regular unsecured cap1 card?

[Anonymous]

I'm glad you posted this, I was just going to ask the same question because I wasn't aware that they only allow you two Cap One card.  So I applied for another Cap One card and received a letter from them saying that I had too many Cap one acct.  I called customer service today and they told me that two is the max Cap One cc you can have.  I have one secured and one unsecured Cap One.  My oldest is the secure cc. with the same limit as yours  There's no benefit to having a secured card once youve established credit so I'm planning to close my secured cc. I'm just worried it will drop my score.

[JUAN04]

Same here but I see other ppl say they have over 2.., SMH

[Anonymous]

meow209

Im not sure that is intirely true i started with a Capital One Secure and i currently have Capital one Platinum and quicksilver one alongside My cap secured card.

I hope this info helps you.

[Anonymous]

Really? I wonder why the credit specialist I spoke to said that then.  Their letter stated that too.  That was the only reason listed for why denied my credti application.  I wonder if there's someone else I can speak to about that.

[JUAN04]

Right... Please let us know... All help needed

[Anonymous]

You can have more than 2 cards with Capital One..it depends on the card you're trying to get. You need to read the disclosure for the card and it will tell you how many cards you can have before applying.