conversation: User (ThePhalicy): "Over the past few years I have been steadily rebuilding my credit from my homeless college student days. When I first started (around 523 credit score) I could only get approved for a prepaid credit card from Capital One. \n\nIt has a $400 limit that I have added to it over the years. It has a 22% interest rate, but it also has about 2 years of good credit history on it. \n\nI was just finally approved for a new capital one card with 1.5% cash back on all purchases and a 1k limit. Interest free for the first year.\n\nShould I cancel this card, and get my $400 back to invest elsewhere now that I have a better card with a greater limit?\n\nOr should I save the card for the credit history attached to it? I don't NEED the cash at all, I just thought there may be a better way to invest $400. If it will drop my score by cancelling it though, I would rather keep it.\n\nAny advice is much appreciated."
  Self: "I believe you can request that Capital One upgrade the card to an unsecured card. Should count as the same card for credit history/length of open credit lines."
  itskohler (itskohler): "I am in the same boat as OP with a secured card through my bank and never knew that this was even an option. Calling my bank in a few minutes to see if they can switch it over. Quickly, though, if anyone has epxerience in this...Since it's a secured card, and have already paid them X amount for the credit line, will they just apply that towards the card, or will banks typically just mail you a check?"
  DarxusC (DarxusC): "How did it go?  What card?"
  