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Question By
jflo141

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Closing CapOne Secured Card?
I have a CapOne Secured card (CL-1300) that I obtained about 4 years ago when rebuilding credit. Have since opened two other CapOne CCs (quiksilver one MC - 5300 CL, Venture one VS - 10K CL), two cards with Chase (Freedom VS- 9800 CL, CSP - 16K CL) and an Amex BCP (9K CL).

Any reason at all to hang onto this secured card? Impact on my util % will be negligible..the only thing holding me back is that the majority of my accounts are less than 3 years old (incl a mortage and car loan) and this will negatively impact AAoA.

Suggestions?

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Top Contributor
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Keep the card.

As explained in the articles offered by this site, part of your score is the age of the accounts and the total of your available credit. Any time you close a card, you remove those factors from your total credit score and hurt yourself.  Just keep the card safely locked up if you don't want to use it.

Top Contributor
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1131 People Helped

Do not close the account. Doing so would harm your credit. Be sure to spend as much time as you need to read everything that you can about credit.

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