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I was going to try to wait until closer to the 2-year mark (August 2012), since I paid the $79 AF last September and the interest rate (setting aside the AF) wasn't horrible. Ultimately, I couldn't wait! I don't carry balances, I don't need the $600 credit limit for utilization purposes, and I want one less card to keep track of.
I received my official closed account email today Can't wait to go home and shred it. Helpful for what it was, but good riddance!
Congrats! I closed mine back in December, still waiting for it to report as closed. The account shows up as closed on HSBCs end (got the initial email and another confirmation email last week after I asked them), but they still haven't reported it as closed to the CRAs. When I emailed to ask about it, they said I'd have to call them and talk to Peggy to find out why it's not reporting as closed yet. Really not in the mood to deal with their CSRs. I guess the longer it stays showing 'open', the longer it'll stay as part of my credit history anyway.
Onward and upward! I think that once you have several accounts that are four figures, it's good to close three-figure accounts. THey just ruin the look of your credit report.
Happy closing!
@ChesterPDexter wrote:Onward and upward! I think that once you have several accounts that are four figures, it's good to close three-figure accounts. THey just ruin the look of your credit report.
+1
@ChesterPDexter wrote:Onward and upward! I think that once you have several accounts that are four figures, it's good to close three-figure accounts. THey just ruin the look of your credit report.
Agreed! Plus, my Capital One will increase to $2500 in a few months (credit steps program), and I'm anticipating a CLI on my BR Visa this month.
@JustMe77 wrote:I was going to try to wait until closer to the 2-year mark (August 2012), since I paid the $79 AF last September and the interest rate (setting aside the AF) wasn't horrible. Ultimately, I couldn't wait! I don't carry balances, I don't need the $600 credit limit for utilization purposes, and I want one less card to keep track of.
I received my official closed account email today Can't wait to go home and shred it. Helpful for what it was, but good riddance!
Congrats!!!!
Still on the fence on whether to close my household account when it reaches a year or not, not happy about AF but would consider keeping it for a nice CLI.
That remings me I need to do the same thing tommorrow as my AF hits this month. Three or four years and it's still at $300. Oh well, it's served it's purpose. Amex, Chase, and primeish HSBC/Merrick have taken hold.
@JustMe77 wrote:
@ChesterPDexter wrote:Onward and upward! I think that once you have several accounts that are four figures, it's good to close three-figure accounts. THey just ruin the look of your credit report.
Agreed! Plus, my Capital One will increase to $2500 in a few months (credit steps program), and I'm anticipating a CLI on my BR Visa this month.
I thought that the Capital One credit steps CLI only worked once for the life of the credit card.
@Anonymous wrote:
@JustMe77 wrote:
@ChesterPDexter wrote:Onward and upward! I think that once you have several accounts that are four figures, it's good to close three-figure accounts. THey just ruin the look of your credit report.
Agreed! Plus, my Capital One will increase to $2500 in a few months (credit steps program), and I'm anticipating a CLI on my BR Visa this month.
I thought that the Capital One credit steps CLI only worked once for the life of the credit card.
This will be my first increase. It opened at $2000. After 5 months of paying on time, it goes up to $2500. Some people get 2 increases I think? I don't know...but I know I just get one.