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dleague217

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Should I close a secured credit card?
I have a Capital One secured card that I have had for almost 3 year. I pay a yearly fee on it. I have since been approved for unsecured credit cards and keep them paid. I have contemplated getting rid of the secured card so I dont accrue the yearly fee. I have asked Capital One to convert this to a Unsecured card and they said I would have to apply for the unsecurec credit card. I am reluctant to do that because 1) I dont want the hit on my inquires 2) because I already have unsecured cards and dont necessarily need the secured one. I have left it open because I figured it would help my score and credit limit and also because of the date its been open. Its the longest I have for a credit card. Any suggestions on what to do? My score is ranging around the 680 range with Transunion.

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????

That's exactly what Im questioning now. The secured card only has about $300 limit but Im afraid that if I close it my score would dropped BIG TIME! 

Did you decide to close it? 

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