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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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Top Contributor
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YES,

Any time you close a credit card it will affect your score because it lowers your available credit.  

The next step is to go back to the bank that gave you the secured card and ask to have the card converted to a regular card. They will check your credit report and if you now qualify (becuase you now have other unsecured credit) they can change the account over to an unsecured card and release the colateral you put up for the ssecured card.  

If they don't want to change it right now, they should be able to tell you when they can. Don't close it either way. That would hurt your scores in the long run. 

Good luck 

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