How cancel credit card but without taking a credit hit?

You should have 2 major credit cards. One for every day use and one for emergency. It usually takes 24 months of activity to boost your credit score between 660/749 which is a good score. Excellent is 750/840. Having excellent credit will give you a lower rate on mortgages and car loans.

You Cap One account didn't even start counting in your FICO score till the 6th month point. Inactive cards do not help your credit/score. You have to actually use the accounts. If you do not use the account at least every few months, the credit card company will eventually close the account due to inactivity.

As long as you are not carrying balances on any credit cards, closing an account will not have a big impact on your score. Closed accounts in good standing remain on your credit for at least 10 years. They just don't count as much as open, active accounts. You may not even notice the difference since this account is so new.

Close the account via letter (use the correspondence address on your statement). Ask for written confirmation that the account is closed and 0 balance. Keep that conrfirmation in your forever financial file.

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