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Seukpanya

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Should I cancel my secured credit card?
first credit card was a from a store in the mall. Could not get approved for any bank so I got a secured card from Capital one and put down $200 on it. Credit score went up and from there I now have a Chase Slate ($500), Capital One ($1100) Quicksilver, and a Credit union card ($5000). I recently took a big negative hit on my score. All payments are on time and no debt. Is it safe to cancel my secured card now that my credit is low again?

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I would contact Capitol One and ask them if you can convert it to an unsecure card. If they won't or can't I would still keep it open because closing it would lower your credit age.

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