Posts: 10,334
Registered: ‎12-30-2011

Re: Closed my Cap1 Secured today

doc101 wrote:

If I'm approved for a BoA, i'm closing my account with Cap1 as well. Have had the card for over a year, no late payments and can't even get a CLI.......what's  the use in keeping the card if I can't advance?

Because FICO advancement has nothing to do with CL's other than convenience factor. :smileywink:


I'll admit I'm doing some silly tricks (5K on a secured card...) to try to goose credit limits later; however, worrying about getting CLI's from lenders who are known to be stingy, isn't a big deal.  Don't get hung up on starter card limits,  you actually want to advance in score which comes from having a couple tradelines and never, ever missing (or being late) on a payment or letting other things slip through the cracks (collections and what not) is how you move towards winning FICO wise.  Eventually your score will open up enough to qualify for cards which do grow in CLI's, but really it's not worth losing sleep over.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 683, EQ 8 690, TU 710, EX 715 (01/01/15)
Goal Score: 700 on EQ 04 (01/01/16)

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