Why You Should Close Old Capital One Cards
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- čas přidán 28. 05. 2024
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Behind the scene, as long as the account was closed in good standing, that account will continue to age for 7-10 years.
Your content is consistently great and your presentation keeps getting better!
Love your work my guy. You are definitely one of the best on this app. Bravo!
I just closed my Venture One and Platinum cards that id never use. I took a couple point hit on my reports but they'll rebound quick. If you have one or two cards, watch out, yet if you have 10+ cards, it'll be just a small drop. I'm looking forward to just having cards I use. 👍
I'm going to be cancelling my credit one card ($300, 6 months old) & MAYBE my premier card ($1000, 1 year old)... They have no valve/benefits at all to me, so I'll only have capital ones Savor ($600, 1 year old), Quicksilver ($1000, 10 years old) & business Spark cards ($1,000; 1 year old. Hoping in the future I can get the amex gold, the chase flex, & Citi custom cash. . . Right now I gotta build my credit up to get there.
good idea, i am going to be canceling the same two cards . high interest and fees , no rewards !
Doing a petition to get Cal back on Sundays evening live streams .
Haha 😄 🤣. Neno, I definitely appreciate it. I wish it didn't take so much time to prepare.
People talk shit on capital 1 but i like em they helped me. Heck they upgraded my secured platuim card to a unscured card and refunded my desposit.
I only closed 1 card that had a $50 annual fee and the card was trash and I had the card for 7 years and only a $500 limit so that card had to get let go
Any closed accounts WILL lower your credit score. I just lost 30 points in my FICO for paying off my car. Toyota Finance account closed.
Yea that seems right
Your available credit dropped.
Yep
My Capitol One Quicksilver started out with a $2000 in Feb 2022 and after several increases it's at $30,000. I'm happy with that! The SavorOne card on the other hand, not so much. They started me with a measly $500 limit and they ain't budging!🤣 You win some, you lose some. But, you live to fight this credit battle another day!😂😂😂😂
Bro i got $600 for my SavorOne card
Synchrony Bank closed my accounts for being late 3 times.
Well you are not taking into acct all the new acct you will get overtime that will bring the avg age much lower after that card falls off.
100% correct
Closed My old capital one card and reopen and my credit limit double with the new one
People add CCs over time so having that 15-25 years on one cards history allows one to add new CCs without tanking your CC average age history, if its a 0AF then no need to close the CC
This is exactly why I am keeping two of my accounts open that are over 20 years old.
I want to close my platinum card but they
Just increased it to 2,600 from $600. The card has no rewards. It would be nice to move my credit from my platinum to my savor one and close the platinum for good.
I have less than 5 years of AAOA and I am in the mid 800's. Doesn't effect your score as much as you think.
What are the requirements to upgrade my quicksilverone to no af version
I closed my Cap One Quicksilver because of the $36 AF, I don't use it and they told me the only way to upgrade is to apply for a new card (and take a hit to each reporting agency). You can however, check for approval without it affecting your score but when you actually apply you'll take the hits. I had that card since 2010.
I’m just going to take my Quicksilver Line and move the limit to my SavorOne and use that as a Balance Transfer card as long as C1 will hand them too me.
I've never heard of Capital One doing that. Is that something new have you done it before
Dont do it, I was going to upgrade my quicksilver to savorone. But! The only issue is you keep the same account number so if your card was bucketed the savor one will be too. Its better too apply for SavorOne instead so you get a higher bucket if your credit score is better than when you got yout quicksilver. @sinned96
@@sinned96 above I replied, youtube Un @s people for me
Yeah..I’ve never heard of that and I have both cards
I told them to transfer my limit to another credit card to close the other card like 4 years ago and they told me is not possible. How are you going to transfer the limit if they don't offer that?
I’ve had a Capital One card for almost 5 years. With an annual fee of $59 and with only $300 limit which is garbage. Never got a limit increase on it. In total, I have $40k credit limit on my other cards from other banks that are newer (less than 2 years average age). Is it safe to close the Capital One to avoid the annual fee renewal in July?
yes
You can call them some times they wave the manual fee. I did that long time ago and then I was able to product change to a no annual fee card.
@@oscarrosales578 i did that already. I asked for a product change to a no annual fee. No luck. And also asked for annual fee waiver. They just gave me $30 credit on my account which is still half of my annual fee. I will call again next month to haggle with them.
@@oscarrosales578 Great point!
Close that sh*t if doesn’t benefit you. It’s a fraudulent charges waiting to happen that you not did know about and boom 💥 you missed payment . Bye bye credit Fico score
Bad advice.
*edit, good advice starts @5:00
I miss the live Videos Cal🥲. Neno im glad he’s mentioned you. Salute to the family 🫡✌️