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Cap One: How Long to Close???

Discussion in 'Credit Talk' started by NiceGuy, Oct 29, 2003.

  1. Oct 29, 2003 #1
    NiceGuy

    NiceGuy Well-Known Member

    I have a Cap One opened in 12/02. Is it too early to close the account, or should I wait?

    PFB'd to ask for 4.9 fixed and got no reply (it's been a month)...
     
  3. Oct 29, 2003 #2
    Flyingifr

    Flyingifr Well-Known Member

    What's wrong with just paying it off and putting it in the sock drawer?
     
  4. Oct 29, 2003 #3
    ontrack

    ontrack Well-Known Member

    Old tradelines in good standing with no balance and credit available improve FICO scores. Why close?
     
  5. Oct 29, 2003 #4
    cibomatto

    cibomatto Well-Known Member

    I closed mine becasue it involved me paying a yearly fee...
     
  6. Oct 29, 2003 #5
    NiceGuy

    NiceGuy Well-Known Member

    The main reason is that the account has a $39 annual fee.
     
  7. Oct 29, 2003 #6
    Hedwig

    Hedwig Well-Known Member

    Can you call every year and get the annual fee waived? If so, I'd keep it and "sock drawer" it.

    Maybe buy gas every couple of months and pay if off to keep it active.
     

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