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Question By
feuerbach

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I opened a secured credit card 1 year ago.Now I have the requirement to open an unsecured card
Should I close the secured credit card and get the money back or do I keep it open for a little while?

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Top Contributor
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Depends on what you are wanting to do. 

If the Secured CC is the only CC you currently have then your Avg Age of accounts is 12 months. 

Now if you leave that Card open and Open another CC your Avg Age of Accounts would be 6 months. 

Or you could Open another CC and Close the Secured CC and your Avg Age of accounts will be 0 or 1 month. 

What if your Long Term Plan?

I'm 5 years into my Long Term plan,  still have my secured CC open  ( 35 dollars a year )  and plan on having it another 3 or 4 years.  

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