Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
fredfoot

0 Contributions
0 People Helped
I have a Capital one card would like the Quicksilver card. Can I cancel old card with out penalty?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
9593 Contributions
4197 People Helped

Bad Move

When you close a card, you reduce your overall credit and other essential factors in your credit score.  If you want, and can get, a Quicksilver card, add it to your totasl cards.  Re-read the articles so you can better understand how credit really works.

Reply by
pminicam

1 Contribution
15 People Helped

i started my credit journey with a Cap 1 secured card. After one year I applied for and received a Quicksilver Master Card with a low CL. I used this card for my utilities and paid it off regularly and ontime. After 1 year I applied for a Venture One card, I was approved but with a low CL. I called and asked for a better CL. I was declined because of my limited history. I then requested that we "combine" all of my Capital One credit onto the Venture card and close the others. Yes! So I ended up with just the Venture One card and a high credt line! Took a wee hit on score for the inquiries, but ended up with a sweet travel rewards card and a higher credit line. Hope my story helps you. Good Luck!

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.