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Canceled My Cap 1 Secured Card. Making Progress!!!

Valued Contributor

Canceled My Cap 1 Secured Card. Making Progress!!!

I canceled my Cap 1 secured card today. It's something simple but it feels good!  The card wasn't going to grow without me adding money to it and with my credit score improving and offers / approvals coming in, it has served it's purpose! This was the first card that I received (9/10) after my BK was complete (2/10). Started with a $200.00 limit and then they added an unsecured $100.00 to that later. It's another wall up between me and my credit/life slump when the economy took a dive a few years ago.

 

The girl that I talked to was VERY nice. Helpful, very friendly and non-Peggy like. I wish all CSRs were like her!

 

 

Cap 1 - $23,000 / Lowe’s - $17,000 / Barclay Rewards - $16,400. / Capital 1 - $15,000 / Walmart - $15,000
Cap 1 - $12,000 / PenFed - $10,000 / Penney - $10,000 / Barclay Apple Rewards - $4000 / Merrick - $2500


EQ - 740 / TU - 748 / EX - 748
Message 1 of 14
13 REPLIES
Moderator Emeritus

Re: Canceled My Cap 1 Secured Card. Making Progress!!!

Glad to hear you're graduating on to bigger and better things.  Smiley Happy

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 2 of 14
Established Contributor

Re: Canceled My Cap 1 Secured Card. Making Progress!!!

+1

Message 3 of 14
Moderator Emeritus

Re: Canceled My Cap 1 Secured Card. Making Progress!!!

Congratulations. It feels wonderful to reach a point where you're able to move past a difficult period in life. Forward progress is always a good thing.  Keep up the good work, and best wishes on your continuing credit journey.


Current Scores: EQ 775 (03/04/2014), EX 756 (03/01/2014), TU 760 (03/01/2014)
Ruby Spade Garden Club Member - Last App: 03/04/2013 - No apps until 2014
Cards: Cap1 Venture 6.4k, Cap1 Quicksilver MC 1.75k, BankAmericard 1-2-3 Visa Signature - UCF Alumni Association 5k, Discover 7k, Citi Diamond Preferred MC 10.35k, Wells Fargo Rewards Visa 7k, Chase Freedom 5k, Chase Ink 7.5k, Amex Green NPSL, Dillard's Amex 7.5k, JC Penney 7.5k, Kay Jeweler's 5.1k
Message 4 of 14
Highlighted
Valued Member

Re: Canceled My Cap 1 Secured Card. Making Progress!!!

Did they say how long it's going to take to get your money back? I want to give myself a CLI for a couple months, so I can apply for a better card, then cancel my secured card.


Starting Scores:
EQ FICO 648 - TU08 598 - EX FAKO 544 (1/2012)
Current Scores: EQ 703 - TU 767 - EX 750
In My Wallet: AMEX BCE ($22.5K), Discover It ($10K), USAA World MC ($9K), Chase Freedom ($8K), Fidelity Rewards ($5K), Citi Double Cash ($4.5K) Walmart ($4.5K),
Message 5 of 14
Established Contributor

Re: Canceled My Cap 1 Secured Card. Making Progress!!!

Congrats

Message 6 of 14
Established Contributor

Re: Canceled My Cap 1 Secured Card. Making Progress!!!

Cancelled mine also today, feels good.

 

They asked me to stay with unsecured. I told them, I have one ... SD Smiley Very Happy

 

Congrats



FICO (TU/EX/EQ): 737/743/739 - Total CL 244+K
Message 7 of 14
Valued Contributor

Re: Canceled My Cap 1 Secured Card. Making Progress!!!

I had a $300.00 limit. $200.00 of that was secured and the balance was $292. I made a $92.00 payment and told them to apply the $200. that I sent in when I opened the account to the balance and that would take care of it. It was as of Monday.

 

I know interest rates aren't that great right now but it would be nice to draw some interest on $ that you deposit in a secured account. 

Cap 1 - $23,000 / Lowe’s - $17,000 / Barclay Rewards - $16,400. / Capital 1 - $15,000 / Walmart - $15,000
Cap 1 - $12,000 / PenFed - $10,000 / Penney - $10,000 / Barclay Apple Rewards - $4000 / Merrick - $2500


EQ - 740 / TU - 748 / EX - 748
Message 8 of 14
Established Contributor

Re: Canceled My Cap 1 Secured Card. Making Progress!!!

congrates. I know I can't wait to jan when I close mine. I have been at max 3k for years, and never a late payment. social team ,and BBB complaint no help, all they gave me was a free 100 bucks...they changed the rules of possible card graduration after i accepted card , which has me pissed off.



TU 715 No apps to 05/13 cash+ 5/13!!! 738 TU CSP April 13!!!CSP approved May 13!!!


Message 9 of 14
Valued Contributor

Re: Canceled My Cap 1 Secured Card. Making Progress!!!

Congrats on the cancelation.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 10 of 14