Close my oldest account

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4 posts
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Close my oldest account

Postby rockyrock » Fri Oct 11, 2013 7:01 pm

My oldest card is a POS :shoot: Cap1 card from 1999. I despise this card, it's terrible APR and AF. I haven't used it in eons but every year it forces me to flush $39 down the toilet. The problem is my next oldest card is my Amex (2005) and my AAOA is 4 yrs 9 mos.

I think they must know they have me by the short hairs because they refuse to let me PC to any of their no AF cards.

If I close this card I believe I will take quite a hit on my already mediocre AAOA--Credit Karma rates my history at a "C". The longer I wait the longer it will take me to recover though...

Any thoughts?
Sapphire Reserve: travel & dining (almost everything until I meet my initial spend)
Blue Cash Preferred: groceries & gas
Freedom: 5% cats
Double Cash: everything else

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Postby PallasAthena » Fri Oct 11, 2013 7:21 pm

I would say that if you call them and they don't want to waive the $39 or increase your line of credit or upgrade your card, close it! I don't think your credit score would take that much of a hit if any hit at all.
Capital one is doing the same thing to me. They won't waive my $19 / year fee, won't increase my line of credit and I've been with them for 6 years, and they won't upgrade it either! I am about to shred that card and cancel that account.

I say do it!
Dec '16 Fico: 800+
Ch 7 BK in '06, finally dropped off in '16
2 mortgages
paid off car
$0 CC debt (Disc, Citi, and WF Amex)

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Postby kennys2006 » Fri Oct 11, 2013 7:39 pm

Why haven't you tried the EO? They would and should remove your annual fee and add 1.5% cash back to it easily. If not PC it to Quicksilver.

Either Twitter/Facebook contact to Capital One will get you this success. Good luck and let us know how it goes! Don't close it yet!

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Postby DavidNY » Fri Oct 11, 2013 10:57 pm

If you close it, it will stay on your CR a while as a closed account.

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