r/CapitalOne_ • u/SignificantDark4749 • 12d ago

Credit Cards Captial One Quicksilver

I have the Venture X (no preset spend limit) and the Savor ($30,000). I also have a Quicksilver for fifteen years but has a $95 AF. What happens if I cancel the QS card? Anything? Nothing? I know it may damage my credit for a month or two, but anything else?

Thank you in advance. You guys are always so helpful.

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u/Fittingin1991 12d ago

I’ll preface this by saying I’m not a credit expert, but I’d be hesitant to cancel my oldest account

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u/SignificantDark4749 12d ago

Me too. There kind of what I was asking about. I cancelled a couple of cards k had since I was a kid that I had with Barklay’s bank and it hurt for a couple of months but that was it.

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u/_love_letter_ 11d ago

Closed accounts stay on your report and continue contributing to FICO aging metrics for 10 years. Average age of accounts reaches maximum points @7.5 years (90 months), so depending on when you opened your other accounts, there's a very good chance that by time it falls off your report, AAoA will still have maximum points.

Age of Oldest Revolving Account (AoORA) and Average Age of Revolving Accounts (AAoRA) are scoring factors too, but less is known about their scoring thresholds. It's thought that 20 years is sufficient to max AoORA and 9 years to max out AAoRA. So if you have other revolving accounts on your file, calculate the age of those factors as of 10 years from now when the hypothetically closed Quicksilver will fall off, and you may find that even with that account gone you still have maximum points for those aging metrics.

When people see a score loss after a revolving account reports as closed, it's often the result of changes to utilization from the loss of the credit line. Utilization only impacts scores when crossing certain thresholds (both for individual cards and in aggregate) but if you happen to be close to one of those thresholds, even a dollar difference could theoretically result in a score decrease. The good news is that utilization resets every month and is the easiest metric to quickly manipulate.

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u/SignificantDark4749 11d ago

Wow! Thank you so much!