[Michael]

I have always believed cash was king. I never really began building my credit up until 3-4 years ago. I started with a credit card with a security deposit.

I have since recently qualified for a card with a greater limit and no balance.

I would like to close out the secured card and use the $2000 deposit to invest while the stock market is still down.

With this being one of the oldest things on my credit, aside from an 8 year mortgage, how bad will closing it out effect my credit?

I don’t intend on making any large purchases that will require financing for atleast 3-4 years.

[Sean]

Just ask them to change it to an unsecured card assuming your credit is better now.

[Don]

FICOs website shows a chart of the weight of each item they consider when calculating your FICO score.

[Mark]

leave the card open. just don’t use it. length of credit history one of the big factors in deciding ur score.

[David]

No major purchase for 3-4 years. This wont matter. Credit is easy to build quickly when needed.

[Fort]

Ugh this is a hard one. How old is this credit card? How old is your second oldest card?
Have you called and asked them to un-secure it?

[Chris]

Credit Karma and potentially your credit card or bank accounts (and numerous other sites) have a credit estimator for changes. Like here is your current score, what would your score look like if you closed your oldest card or missed a payment.

[Author]

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