I am still getting the hang of this if something doesn’t make sense please forgive me. I have several new cards and want to eventually (6 months to a year) close my starter Capital One card, but it is my oldest card opened in 2006, limit 2000 APR is ridiculous and it has an annual fee.
My mom is able to add me as an authorized user on her Chase Card account that has been open since 2006 with excellent payment history. Would that offset the removal of the Capital Card?
What would be the best way to go about this with it having minimal effect on my score? I must say that I really enjoyed the Capital ones quicksilver rewards program, but now have BOA and Chase rewards cards that I would like to keep long term with no annual fees.
Should I become an authorized user on Chase Card and then close Capital? Should I wait until I get a CLI of 2000 on one of the other cards and then close Capital Card? Should I keep it? (really don’t want to manage more than five cards). My plan is to stick with the cards below and Garden, wait for the inquiries to fall off and instead of getting additional cards just work on getting CLI’s.
Bank of America Rewards 2000
Chase Freedom 2200
Macys Amex 2000
Citibank Secured 2000 (Perfect payment history, should graduate in January)
Any suggestions would be greatly appreciated. Thanks for reading and responding in advance.