Is closing my credit card a mistake?
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I was going to close my Capital One Platinum card, but now I’m wondering if that’s a bad move. It helps my credit history and utilization, right? Maybe I’ll just keep it open for now, use it every once in a while, and wait until I qualify for something that actually gives me points.
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@William You’re definitely on the right track with your thinking here. I wouldn't rush to close that Capital One Platinum card just yet; doing so can actually hurt your credit history and increase your utilization, which might lower your score. It’s better to keep it open, use it for the occasional small purchase, and pay it off. That way, you keep your credit profile strong while you wait to snag a rewards card with better perks later on.