I have pretty good credit with several long standing trade lines open and several newer ones with lots of available credt. I only have one card with a balance at 1.99 percent and I have an amex I use to charge and pay off for rewards every month. I also have about 3 or 4 older Cap1 cards that have somewhat low credit limits 300 to 2000 limit that I don't use, they have monthly or annual fees. They also are all at zero balance. I have heard that Cap1 only reports your balance owed as your credit limit. Should I close these accounts out? Will it make my credit scores take a big hit since some of these are 5 plus year old cards?
do not close them - you will lower your score since it will lose age. just sock drawer them. and as far as the credit limit goes - just fax proof of the limit (statement). the CRA's will update the TL.
yes i did with both my capital ones, just before i proceeded to default with them. seriously. all three didn't even contact Crap One.
thanks jen, i should have tried doinf it first- had i known that technique- but i had closed my account- but it was because of two reasons: 1) credit limit not reported 2) annual fee of $49 for 200 credit limit thanks again for the reply- i appreciate it-
