Kohls Credit Card Approval 2 months after discharged

[kiea]

I filed on 4/4/17 and I was discharged on 7/10/17.  A week before I was scheduled to get discharged I applied and was approved for a Credit One card with a 300.00 limit.  I'm not happy about the fees but I'm not complaining because of my situation.  Then in July I received a great job offer but I needed a car.  I went to a few dealerships and I was getting turned down left and right...mainly because my credit report payment history was completely erased on TU and EQ and the banks wanted me to build my credit history up again before approval.  So I ended up going to Drivetime and thankfully they approved me the same day.  

Fast forward to now I needed some clothes for work so I decided to try my luck and apply for a Kohls card since they have great deals and nice clothes.  I was approved in minutes.  It's only a 300.00 limit but I'm happy to get approved so quickly after the year that I had.  I'm unable to get approved for Capital One because of too many inquiries during the car shopping process.  I plan on waiting a couple months to try with them again and then cancel Credit One.

[Anonymous]

Hey, congrats! Good luck with the new job. It sounds like you are taking things slowly as you should be. 

Question, For the seasoned folks on board, will canceling CreditOne at this point in keia's rebuild cut their age of oldest account? (age of any account, really) By a few months, really, so it might just be a cost of doing business but something to keep in mind? Or does it stay on report as a closed account in good standing. 

[Anonymous]

Closing Credit One won't hurt average of account. Since it's the only bank card he has right now. and he has already taken the hit for new account and inquiry, I would keep it open at least until a year and he can get better cards. It's helping his score at this point.

[Anonymous]

Just to add, my zero balance  Kohl's card survived my BK, it was issued through Chase at the time. They did, however, reduce my CL from $1000 to $200.

[Scupra]

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@Anonymous wrote:

Hey, congrats! Good luck with the new job. It sounds like you are taking things slowly as you should be. 

Question, For the seasoned folks on board, will canceling CreditOne at this point in keia's rebuild cut their age of oldest account? (age of any account, really) By a few months, really, so it might just be a cost of doing business but something to keep in mind? Or does it stay on report as a closed account in good standing. 

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Closed accounts would remain for 10 years and continue to be a factor in AAoA. It just wouldn't continue to age.

[kiea]

Thank you Capabk.  I am trying to take things slow because I also have a lot of school loans on my credit report that I will like to focus on paying.  But you made a good point...closing the card too early might hurt me more.  I'll try to keep it open for a least a year.  Thanks