Okay, now that I have a "real" credit card, I want to get rid of my Cap One because of the terms and fees and I want to get rid of my American Pacific (which is a great secured card, btw) because I want to free up my securing funds. I have never "cancelled" a card while in good standing. What's the best way to do it without screwing my credit score. Any advice/experience welcome. Thanks! Nineflies
Theres nothing much to it, EXCEPT to make sure you have a 0 balance and reported as such to the CRA's BEFORE you close it. Also, close 1 account per 60 days to minimize the FICO impact. Finally, keep your 2 oldest cards since AMEX and MBNA really pay attention to that.
Thanks Brad J! I don't have to worry too much about MBNA. I think I am banned for life with them and I know they are banned for life with me.
