To Close or Not to Close….that is the question

To Close or Not to Close….that is the questionTo Close or Not to Close….that is the question
NetMiner007 asked 5 years ago

Hi guys,


I think I know what I’m going to do, but I’ve gotten so much great advice from these boards that I want to see if you agree. I have over 10 credit cards (4 with Capital One alone), and my lowest limit is 900 on on of the four Capital One Cards. Two of those four cards do not carry a balance, and the third has a balance and none of the three are in use, as I’ve obtained better cards. I have a Credit One card that I’ve had for two years that I’ve barely used as well. I’ve improved my scores to where I now have in my possession an Amex BCE, Discover IT, Chase Freedom, Barclays AA Aviator and a BOA Cash Rewards, which are my go-to cards. The fourth Capital One Card is a Quick Silver that I started as a Platinum Card back in 2007 with a $ 300 limit, now is a $ 6,000 QS. I haven’t used that card because the utilization is relatively high compared to my other cards and I wanted to pay it down before putting it back into circulation. My plan was to transfer the balance from the Capital One card that has a balance to the QS (I have a 12 month BT offer 0%) and close the three platinum cards and then close Credit One, which I’ve used maybe 5 times in 2 years. My only concern is that the three Capital One Cards have an AF but I’ve had them since 2007, 2009 and 2011. As it is, my AAoA is like 4 years so closing them may affect it unless it stays on the report. So what would you do? Would my history be affected/scores drop if I close these cards that I clearly have no use for?

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