Consolidate cards, cancel and settle card

pacpac2018

Hi, I have for months had a card with CapitalOne. Recently I applied for and was approved for a second card from CapitalOne. After a couple of weeks I decided not to keep the latest card. So, I consolidated balance and credit limit to the oldest CapitalOne card and cancelled the latest card. On my credit file it says this latest account is closed and settled. Can this in any way be seen as negative by other lenders?

[Deleted User]

If it was one of only two cards, it may well be viewed that lenders so not trust you - or that you don't trust yourself. Your utilisation will also be a lot higher.

If you get another card, then as long as you trust yourself to control your spending, try to keep it open.

However, it is was just one of a dozen, it may be viewed positively.

pacpac2018

With this card I had five cards, now four cards (three credit cards and one store card). How can this be viewed negatively? I applied, was approved, received the card. Then I decided to consolidate and cancel. The balance on the latest card was settled in full by CapitalOne and the limit was transferred to the oldest card, so that limit then increased.


In case this could be viewed negatively, how long time will need to pass for no longer being negative?