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rightbrainv

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Credit One / Capital One switcharoo
(please delete my previous question. hit submit too soon)

The Credit One / Capital One logos look identical. I goofed and opened an account with Credit One, and cancelled my Capital One card. Goof was totally my fault.
Out of principal, I kinda want to drop Credit One. Will doing that and opening a new Capital One card ding my credit? How long should I wait?

(Quick search showed I'm not the first to stumble over this one... but, ****... that really bugs me)

Thanks!

John

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Of course it will, from new inquiries, new accounts and lowering your average age of credit. Additionally, depends on your overall credit profiles, your scores might drop from closing credit cards. However the effect from those activities tend to be short term, your scores would typically recover in 3~4 months. "Personally" I would not hesitate for one second before I close Credit One, regardless whatever effects on my credit scores.

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