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Senior Contributor
john398
Posts: 3,526
Registered: ‎01-19-2009
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Re: CLOSE MY SECOND OLDEST TRADELINE? PULL TRIGGER?

Can you possibley push a payment to your bank account say 10 days from statement date that way you have the monthly chg paid for before it posts

Regular Contributor
percy81
Posts: 177
Registered: ‎02-05-2012
0

Re: CLOSE MY SECOND OLDEST TRADELINE? PULL TRIGGER?

The more and more I think about it the more I want to CLOSE the account!:smileyfrustrated:I mean if they're willing to risk losing a great customer that can be very profitable to them ( especially around the holidays:smileyembarrassed:) than to humour me with even just a mere 300 increase to show i made some effort with them then fine!!:smileytongue:I'll take my cards that offer 5% cash back on gas, grocery and spend while their card goes into the shredder.

 

Wow, that vent felt kina good!:smileyhappy:

Current: TU 753 EQ 755 EX 753 (GE credit pull)
Goal 800+
WHAT'S IN MY WALLET: Chase freedom 3,300 /Discover IT 2,250/ Zales 6,000/Care credit 10,000 / kohls 1,500/ LensCrafters 2,400/Capital1 platinum 1,000
Regular Contributor
percy81
Posts: 177
Registered: ‎02-05-2012
0

Re: CLOSE MY SECOND OLDEST TRADELINE? PULL TRIGGER?

[ Edited ]

lisamar81 wrote:

The more and more I think about it the more I want to CLOSE the account!:smileyfrustrated:I mean if they're willing to risk losing a great customer that can be very profitable to them ( especially around the holidays:smileyembarrassed:) than to humour me with even just a mere 300 increase to show i made some effort with them then fine!!:smileytongue:I'll take my cards that offer 5% cash back on gas, grocery and spend while their card goes into the shredder.

 

Wow, that vent felt kina good!:smileyhappy:


Okay, maybe I'll sleep on it first :smileywink: The adrenaline of confidence wore off then my indecisive self took over and told me to think longer on it.  

Current: TU 753 EQ 755 EX 753 (GE credit pull)
Goal 800+
WHAT'S IN MY WALLET: Chase freedom 3,300 /Discover IT 2,250/ Zales 6,000/Care credit 10,000 / kohls 1,500/ LensCrafters 2,400/Capital1 platinum 1,000
Regular Contributor
psychoinhell
Posts: 565
Registered: ‎06-12-2010
0

Re: CLOSE MY SECOND OLDEST TRADELINE? PULL TRIGGER?

I had similar conversations with HSBC Sears MC CSRs.  My CL was stagnant at $300, one year they told me that they would be increasing limits over the next year and they could offer me 50% off the AF of $59.  I took it, one year later the CL is still 300 and I called when the AF came due.  I got the same speech!  "Sorry, I was told the same thing last year, close the account!"  They then lectured me on how it would hurt my credit score... **bleep**?  So I gave them an ultimatum, 3k CL or close the account.  They kept trying to not let me close the account.  Finally I told them I am done with them, close the account or I will report this to the proper regulatory agency.  "Sorry sir, I will close the account."  It felt good to get rid of that $300 card.

 

Let us know if Cap1 treats you any better when you call back :smileyhappy:


Starting Score: 600ish in 2007
Highest Score to date: EQ 716 May 2012(lender pull)
Current Score: EQ 685 6-21-12 ; Walmart TU Fico 744 6-05-12
Goal Score: 801
Regular Contributor
percy81
Posts: 177
Registered: ‎02-05-2012
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Re: CLOSE MY SECOND OLDEST TRADELINE? PULL TRIGGER?


psychoinhell wrote:

I had similar conversations with HSBC Sears MC CSRs.  My CL was stagnant at $300, one year they told me that they would be increasing limits over the next year and they could offer me 50% off the AF of $59.  I took it, one year later the CL is still 300 and I called when the AF came due.  I got the same speech!  "Sorry, I was told the same thing last year, close the account!"  They then lectured me on how it would hurt my credit score... **bleep**?  So I gave them an ultimatum, 3k CL or close the account.  They kept trying to not let me close the account.  Finally I told them I am done with them, close the account or I will report this to the proper regulatory agency.  "Sorry sir, I will close the account."  It felt good to get rid of that $300 card.

 

Let us know if Cap1 treats you any better when you call back :smileyhappy:


I will be calling them when I get off of work tomorrow and sleeping on it for tonight. I hate jumping quick without thinking on what kind of impact the fall might make. I will definitely keep everyone posted. I'll also be looking out for any responses from people that have been there and done that with capital one. I doubt threatening to cancel will get an increase I wanted, so letting them know I don't WANT them will feel nice. :smileyhappy:

Current: TU 753 EQ 755 EX 753 (GE credit pull)
Goal 800+
WHAT'S IN MY WALLET: Chase freedom 3,300 /Discover IT 2,250/ Zales 6,000/Care credit 10,000 / kohls 1,500/ LensCrafters 2,400/Capital1 platinum 1,000
Established Contributor
TNTransplant
Posts: 772
Registered: ‎01-03-2012
0

Re: CLOSE MY SECOND OLDEST TRADELINE? PULL TRIGGER?

[ Edited ]

Just close it. It will not grow with you, so why worry with the hassle of the monthly fee? I guarantee if you forgot about paying this even one time there would be no goodwill gesture on their part, and your credit score would suffer for the next 7 years.

 

Even after closing, you will benefit from another 10 years of positive history reported. You should notice no issues secondary to closing this unless it increases your overall utilization.

 

Also, you already have prime cards with Chase and Discover - I say you're ready to make Cap One walk the plank... :smileytongue:


Starting Score: Jan 2012: EQ - 659, TU08 - 670, EX - ???
Current Score:April 2014: EQ - 772, TU08 - 782, EX - 754
Last App:3/21/14

Regular Contributor
psychoinhell
Posts: 565
Registered: ‎06-12-2010
0

Re: CLOSE MY SECOND OLDEST TRADELINE? PULL TRIGGER?


TNTransplant wrote:

 I say you're ready to make Cap One walk the plank... :smileytongue:


I like the sound of that!  Especially since Captain Morgan usually makes me walk the plank, I know how it feels :smileyfrustrated:


Starting Score: 600ish in 2007
Highest Score to date: EQ 716 May 2012(lender pull)
Current Score: EQ 685 6-21-12 ; Walmart TU Fico 744 6-05-12
Goal Score: 801
Established Contributor
kjm79
Posts: 1,008
Registered: ‎01-22-2008
0

Re: CLOSE MY SECOND OLDEST TRADELINE? PULL TRIGGER?

I hate cards that charge a monthly "maintenance" or "service fee".  And on top of that, you're not using it.  I would say to close it.  It will still continue to report for you.  ONLY thing you lose is the lovely credit limit it offers you.  I say keep cards if there's no AF. 

 

I've had a Target card since 2009 with a $200 limit that NEVER moves.  ONLY reason it's still open is that there is no AF or other charges.  Every now and then I go use it and save 5%.  I say every card has it's time and serves it's purpose.  If you're not using it and they won't waive the fees, what is it's purpose? 


Starting Score: TU? EQ 585 EX? (12/06) (CH 7 bk 11/04)
Current Score: (5/12) TU 699 (myFICO) TU 709 (WalMart) EQ 690 EX 686 (CC denial 7/11)
Goal Score: 720 Across the Board by Mid 2012
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Moderator
Revelate
Posts: 9,731
Registered: ‎12-30-2011
0

Re: CLOSE MY SECOND OLDEST TRADELINE? PULL TRIGGER?


psychoinhell wrote:

Cap1 is nailing you monthly?  I thought that was Orchard that did that?  I have two Cap1 cards and can attest at what a pain they can be.  They do not seem to want to grow with you.  You are over 700, so....  Call them up and ask for an upgrade from a senior credit analysis, if they refuse tell them you want to close the card.  It maybe your oldest card, but even when you close it the account will still stay on your credit for up to ten years and continue to age.  My oldest account is a car loan I paid off 6 or 7 years ago and it says my oldest is 11 years and X months old.    So closing the account will affect your AAoA, about 10 years from now.


Orchard (at least current cards) is just an AF like most others.  FP and CreditOne have monthly fees.  

 

To the OP: you could ask to be swapped to a card that has an AF instead of the monthly one as well, I'm not certain when Cap One issued montly fee cards but AFAIK they've stopped that (as it makes tons more financial sense for subprime lenders to hit you with the AF right up front...)

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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Frequent Contributor
astritaho1979
Posts: 451
Registered: ‎10-02-2011
0

Re: CLOSE MY SECOND OLDEST TRADELINE? PULL TRIGGER?

Dont think twice and close the capital1 asap.Open a prime card. With your score you could get a good prime credit card with 8000 limit


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