Canceling a credit card can damage your credit score, but Capital One makes it easy to downgrade to another card. If that’s not an option you can cancel over the phone or online.

When I started working on rebuilding my credit, I applied for the Capital One Platinum Secured Credit Card and gave a $200 security deposit, which served as my credit limit.

Capital One recommends keeping your utilization ratio at 30%or less. Using the previous example, a 20% utilization ratio would be helpful for your credit score. If you were to have an outstanding ...

Downgrading a credit card typically changes how you earn rewards, though it's rare you'll lose them in a product change. If ...

Normally when you use your credit card to make a purchase, it’s a one-time deal. You swipe or tap your card at the checkout or enter your details when shopping online, and that’s it.

How to Downgrade a Capital One Credit Card. If you want to downgrade instead, the process is fairly similar. Here’s how to do it: — Call Capital One customer service.