Got a secured card from Capital One. Has definitely been helpful in improving my score. Now that it's better than the average, can I cancel the card? The interest rates are quite high and my I was just allowed a unsecured credit card, which I can put to good use if I want to maintain the score. Will this cancellation have negative affect?

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Closing off the accounts evidently affects score. So, it's going to dip yours too, a bit in the first. But, now that you can use your unsecured credit card to boost your score gradually, it'll be a wise decision to go for it anyway. Cancel the secured card and put away the deposit money which will be returned to you, for your emergency funds.

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