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Dantana2000

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Cancel Secured Card?
I've had a secured card for a little over a year. I recently was approved for 2 different credit cards. Would it affect my credit score if I was to cancel the secured card?

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Yes, it would most likely have a negative impact, especially with the scoring system here as it doesn't factor in closed accounts, however, most lenders dont use the scores here, they use FICO scores and most FICO scoring systems still factor in closed accounts to determine your "average age of accounts". I would advise you to leave this card open regardless, at least for now, until you have done some thorough reading on all credit topics. I would strongly expect a ding to all scoring systems if you closed this card now.

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