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Member
keen_keen
Posts: 11
Registered: ‎07-13-2010

CHASE BP Card...closing my account

Does anyone know who what i can do to keep my BP CHASE card account open. Have had the account since 2007 with the same lame 240 CL. I always use and pay over the min. every month. No lates ever. Never given a CLI and never requested one. Now they are saying that my utilization is too high so they are not re-issuing me another card. Should I fight for this card or just let it go and hope that my scores dont take that much of a hit? I am now trying to re-build my credit to hopefully purchase a home within a year and this really blows!!!!


Starting Score: 498
Current Score: 542
Goal Score: 700 Club


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Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: CHASE BP Card...closing my account

What are balances and limits on your accounts?

Member
keen_keen
Posts: 11
Registered: ‎07-13-2010

Re: CHASE BP Card...closing my account

I have a home depot w/ 750 CL $50 bal. BP card 240 CL with $140 balance....no other credit cards...all other accounts are student loans that are deferred. I few derog paid accounts and more than enough derogs that Im currently paying and disputing.


Starting Score: 498
Current Score: 542
Goal Score: 700 Club


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Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: CHASE BP Card...closing my account

It should not hurt credit score, once you pay it off.    It is a positive account with 3 years of good history, which will report for another 10 years.   If you pay off the balance, you might have a shot at reconsideration.  

 

On the other hand, you probably should need a major credit card or 2 to improve your credit portfolio.   I think that might more important. 

Valued Contributor
ngerasimatos
Posts: 1,278
Registered: ‎06-01-2007

Re: CHASE BP Card...closing my account

What are your scores currently? Do you need this card badly?

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

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Member
keen_keen
Posts: 11
Registered: ‎07-13-2010

Re: CHASE BP Card...closing my account

My scores are 598EQ, 593EX, and 590 TU. I applied for a Capital one card and they offered me the secured card. I will just go ahead and take that and hopefully that will push my scores over 600.


Starting Score: 498
Current Score: 542
Goal Score: 700 Club


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Valued Contributor
ngerasimatos
Posts: 1,278
Registered: ‎06-01-2007

Re: CHASE BP Card...closing my account

I would instead contact a local CU that offers a rebuilder card or secured card and go with them. Crapital One will never grow with you and a CU card can.

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

700 Club
Senior Contributor
Wolf3
Posts: 3,198
Registered: ‎01-24-2010

Re: CHASE BP Card...closing my account

 


keen_keen wrote:

My scores are 598EQ, 593EX, and 590 TU. I applied for a Capital one card and they offered me the secured card. I will just go ahead and take that and hopefully that will push my scores over 600.


 

The capital one card will add unsecured limits over time.  That is growth that no other major bank offers.   I think it will be big help. 

 

Finding a good CU with secure cards is also good idea.  Of course, you can do both. .

 

 

Member
keen_keen
Posts: 11
Registered: ‎07-13-2010

Re: CHASE BP Card...closing my account

I think I will have to agree about Cap1 card. I have heard a lot of folks complain about their cards. CU's are good too, but I get no love from mine. I say that because I had a card with my credit union about 8 years ago. It went into collections and was paid off after derog. When I applied again last year they denied me for a secured card. What about US Bank. I just opened an account with them and I think a bank would be better than a CU.


Starting Score: 498
Current Score: 542
Goal Score: 700 Club


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Valued Contributor
ngerasimatos
Posts: 1,278
Registered: ‎06-01-2007

Re: CHASE BP Card...closing my account

I think a CU is better for a rebuilder card. Big banks are not flexible IMO

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

700 Club

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