Capital One Quicksilver Cash Rewards Credit Card: Earn $200 Cash Bonus with Expired

This is not generally true for cancelling a card. There are specific circumstances where it can be an issue though.

You raise two of them in this post so figured it'd be worth addressing so others don't get the mistaken impression ANY cancellation will hurt your score.

(also how do you go a whole year without using a Freedom card? They're among the most useful cards out there offering 5x UR points in common categories every quarter....)






THAT is the problem. It's wasn't that "a" card was cancelled.

You had a nearly 20 year old card cancelled. Even worse if it's your single oldest card.


Most folks churning cards close or cancel cards all the time, with basically 0 impact on their score- because they always insure they keep their very oldest ones open.

I've got 3 cards from the early 90s- as long as I keep those open closing other, younger, cards has basically 0 impact on my score from this perspective.





Again, this is not GENERALLY the case.




Yes, spiking utilization will hurt you.

Just cancelling the card is not the problem.

Again if you're churning you're typically got so many cards open at any given time that your utilization stays in the low single digits regardless of closing or opening a few cards at any time.


Also- FYI- many (though not all) banks can move credit lines between cards before you close one.

Lastly, if you aren't getting value out of that Chase Sapphire Preferred, and the only thing holding you back it waiting to not lose the credit limit- you can just downgrade it to a free, more useful to you card like a freedom. Credit limit stays the same.

You can't have an 800+ credit score if you have too many credit cards. If a person has a 800+ credit, why would they waste their time for $200-300 on a credit card application?

How do you think those people get 800+ credit scores? It's by Gripping that grip at the click of the whip!

I can confirm that my credit score is well over 800, and I'll sign up for cards to get bonus points all day long!

I've only worked for Banks for something like 11 years… What do I know? Oh and three years before those 11 years, I did credit repair for the Vandergriff auto group.

Given none of my post you quote was directed at you, or in reply to anything from you- and nothing in your reply here actually cites any specific points of disagreement (let alone providing any sources or reasons for disagreeing) with anything in my post- So I'm not even sure if you're agreeing or disagreeing with my post, and if so, on which points and why?


Perhaps you can expand on it a bit?

I am going to need a specific FICO score number from one of the 3 credit bureaus. What exactly does well over 800 mean? I will start with 815, you say higher or lower. Then please tell me how many credit cards you currently have. AMEX deosn't county unless it's one of their credit cards.

I've only worked for Banks for something like 11 years… What do I know? Oh and three years before those 11 years, I did credit repair for the Vandergriff auto group.

Ailways in the 82's. Have been as high as the maximum, 850 before. That was cool. What are you talking about Amex doesn't count? A credit card is a credit card.

nothing in your reply here actually cites any specific points of disagreement (let alone providing any sources or reasons for disagreeing) with anything in my post

A couple pro tips for you all, free of charge:

- Capital One isn't a great place for credit cards. Almost every other company is better for the consumer.

- You can squeeze out a few more points on your credit score if you pay down your cards each month BEFORE the statement closes, and get your utilization down. Paying them every month AFTER the balance shows up on a statement will show higher utilization.

I would turn u down