• We’re currently investigating an issue related to the forum theme and styling that is impacting page layout and visual formatting. The problem has been identified, and we are actively working on a resolution. There is no impact to user data or functionality, this is strictly a front-end display issue. We’ll post an update once the fix has been deployed. Thanks for your patience while we get this sorted.

Credit Card Question

Gunslinger08

Gunslinger08

Lifer
So I have a Capital One card that I've had since about a week after I turned 18 (4 years and counting). It has a stupid interest rate, and Capital One just isn't much fun to deal with. Should I cancel it? Or just leave it alone? I know that cancelling older lines of credit can hurt your score.
 
Is there any fee to this card? Any benefits (pts, cash back)? Do you pay off your balance every month?
 
Originally posted by: joshsquall
So I have a Capital One card that I've had since about a week after I turned 18 (4 years and counting). It has a stupid interest rate, and Capital One just isn't much fun to deal with. Should I cancel it? Or just leave it alone? I know that cancelling older lines of credit can hurt your score.
Click to expand...

There you go. Don't cancel it. In fact, if it's your oldest card, use it every once in a while to make sure they don't cancel it.
 
Originally posted by: BCYL
Is there any fee to this card? Any benefits (pts, cash back)? Do you pay off your balance every month?
Click to expand...

No annual fee, no benefits. I have had a balance on it for a while but it's paid off now. Will be changing my daily use card to Citi Bank which gives me 5% cash back.
 
Originally posted by: joshsquall
So I have a Capital One card that I've had since about a week after I turned 18 (4 years and counting). It has a stupid interest rate, and Capital One just isn't much fun to deal with. Should I cancel it? Or just leave it alone? I know that cancelling older lines of credit can hurt your score.
Click to expand...

Do not cancel the card unless you are getting reamed with an annual fee.

If you close the card, your average open account time will go down-- which will hurt your score. Your total available revolving credit will go down-- which will also hurt your score.
 
Originally posted by: joshsquall
Originally posted by: BCYL
Is there any fee to this card? Any benefits (pts, cash back)? Do you pay off your balance every month?
Click to expand...

No annual fee, no benefits. I have had a balance on it for a while but it's paid off now. Will be changing my daily use card to Citi Bank which gives me 5% cash back.
Click to expand...

Just keep it if there's no annual fee, it doesnt hurt...
 
You must log in or register to reply here.

TRENDING THREADS

Back
Top