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Hi..i have worked hard to get where i am at today..i actually now have good credit ..i have 15 credit card accounts..i do have 3 older accts..2 capital ones both that have AFs and still credit one and merrick. these all go back a few years..in the past 6 months i have added new credit cards that i really like..my chase, huntington, discover it, amex and citi dc..and yes quicksilver..i would like to close the 2 capital ones with the annual fees and merge into new quicksilver..also want to close out the merrick and the credit one as well..Question..is this going to ding my credit scores? I noticed that some of my accounts from 15 years ago that are close still show up on my credit reports. Does it really matter if accounts are open or are closed on the reports? i just want to know which is the best route to take.
thank you!
NFCU MR: $25K | Venture: $21K | Amex ED: $18K | NFCU CR: $18K | Amex BCE: $15K | IT #1: $17.5K | PNC Core: $15K | PPMC: $12K | Wells Fargo: $11K | Savor: 12K | Cap1 QS: $8.5K | Barclays Rewards: $7.75K | IT #2: $7.3K | MLife: $9.5K | Sportsman's Guide: $8.7K | PenFed PR: $5.5K | Elan Plat: $2.3K | TRV: $3.6K | BotW: $3K
Current FICO 8 Scores: EQ: 828| TU: 805 | EX: 814
For FICO scoring purposes it doesn't matter if the accounts are open or closed. Vantage scores like you see on CK and CreditWise only count open accounts. All accounts will stay on your report for ten years after closure. I wouldn't worry about it, if the card isn't working for you, get rid of it.
Have you checked with Capital One, whether one or both of the old AF cards could be PC'd into a no-AF version? Some have been able to do this, others not.
In general, if a card has an AF and you aren't gettnig benefit from the AF, it's a candidate for being closed. FICO won't be significantly impacted, but that AF will keep costing some actual money each year.