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Close Citi Secured card?

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cmm89
Frequent Contributor

Close Citi Secured card?

Hello to the most helpful credit resource I know, again!

 

I took out a Citi Secured card last August while I was rebuilding my credit. I only put down $200 for same limit. I PIF'd every pay period and never carried a balance.  I have been approved for a number of awesome rewards cards and I've SD'd this one. Should I call Citi and cancel it with the offchance they'll SP review and potentially upgrade it, or should I let it sit? Citi says 18 months is the review period. This card offers no rewards so there's no reason why I'd use it.

 

Any advice is welcome!

What I use (& strongly recommend): Chase Sapphire Reserve | BofA/ML (Premium Rewards VS, Cash Rewards VS, Merrill+ VS) | AmEx (Amazon Prime Business)

What I have: NFCU | PenFed | General Electric CU | Wright Patt CU | Discover | BBVA | Apple Card (GS)

Total CL with Bank of America = $100,000 (Platinum Honors Merrill Client). I am a CERTIFIED FINANCIAL PLANNER™ practitioner, so feel free to message me if you have any planning/credit questions.

EQ 759, EX 765, TU 771 (06/10/2022)

I started with scores in the 400s in 2016. This forum is a Godsend--focus on the journey, be patient, and you'll definitely get there no matter the circumstances!

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Anonymous
Not applicable

Re: Close Citi Secured card?

From what I understand, with Citibank, it is 18 months. Period. You have quite a few great cards now, if you do not want to wait another 8 months for it to become unsecured, by all means close it.  You would probably be able to get an unsecured card from them soon anyway. 

 

Mod note:  Remember, keep it family friendly!  Smiley Wink

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