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Question By
boseleatherman

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Have standard, no-rewards card but am looking to get rewards card. Get rid of the old one?
I have a Capital One Platinum which is the first credit card I personally applied for(been an authorized user on my parents card for 8 years or so). I've had it for around 6 months but I have a CK score of 722 and am thinking of applying for a rewards card. Once I have a rewards card where I get cash back on all purchases, what's the point of having my original card? Should I close it or would it be bad to just have a card I don't ever use? Thanks in advance guys.

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Keep it open

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You should keep it open even though you plan on getting a rewards card as your primary card. You can always have a small recurring charge on it (like netflix or an itunes subscription) then setup automatic pay so you don't forget to pay the card. That will keep the card active. Or make a small purchase every month. You wont be using it as your primary card anymore so don't forget to pay it!. Keeping it open will benefit you by having more open accounts in good standing, having on overall lower credit utilization, and help the average age of your accounts.

Reply by
schildpad

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I want to give a second suggestion because I didn't consider maybe your card has an anual fee that will no longer be worth you paying. If this is the case, you can ask capital one to upgrade your platnium card into a rewards card. From time to time, they will put these offers on your account automatically. But you can always request this by calling.

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Thanks schildpad!

I don't have an annual fee with the platinum luckily so that's not an issue.  But I think that was quality advice about keeping it open and just making small purchases every month on it. Thanks so much!

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