Ok so 2 months ago when i decided to start rebuilding my credit I pretty much accepted ANY secured card off that came my way. I ended up with a Capital 1 secured ($ 1000), First Progress secured ($ 500) and a Merrick Bank secured ($ 500). I’ve used and PIF all 3 of these cards for rhe 2-3 months that i’ve had them. Yesterday I accepted the offer for Discover iT secured ($ 500) and im considering closing both the First Progress and Merrick Bank cards and rolling the those secured deposits into the Discover card giving it a limit of $ 1500. The reason im considering this, is because none of my first 3 secured card have the ability to graduate. Even though the Capital One card won’t graduate I still would like to keep it for its ease of use and to build a relationship with that particular bank.
So my question is….Will doing this have any type of negative impact on my credit since im closing these accounts so soon?