cancel
Showing results for 
Search instead for 
Did you mean: 

Closing Cards

tag
Anonymous
Not applicable

Closing Cards

 I have a HSBC BB MC,  always PIF in the 3 years I had it.  I have never been late.......ever!  I started at $500 and that is where it remains,and according to HSBC that is where it will ALWAYS be. I read this forum every day,and I have learned alot of valuable info here. For that,I will be forever grateful.

 

 

I have noticed several posts where it states closing of cards is not good for util or age of accounts. However,I will be closing this card as of today. Apparently my business is not important enough to them for a CLI,nor is it important enough for me to talk to a CSR that has sense enough to realize,I am the customer. They have been rude,and most unwilling. I am leaving with a 0 bal and I will deal with the point drop when it happens! But,I do not want to be associated with this stank,I meant bankSmiley Wink another day.

 

Just wanted to add.....Has nothing to do with pride,it's the principle.

 

According to the posts I read, the acct although closed will remain for 10 years on CR and that's fine with me. I can't imagine leaving this acct open one more day. If I go into a store and did not like their service,or a restaurant and did not like the food,I would not return. This is no different to me. If you don't take a stand,you take the fall. This is just my personal rant,and in the end it is me,and only me that will have to deal with whatever happens next. I just can't allow myself to be treated like this.

Message Edited by Creditfreeze on 06-17-2009 10:06 AM
Message Edited by Creditfreeze on 06-17-2009 10:10 AM
Message 1 of 16
15 REPLIES 15
wndrwmn78
Frequent Contributor

Re: Closing Cards

Good for you. I know that closing cards is generally not a good thing to do, but sometimes it really is hard to keep those small sub-prime cards open. They just seem to clutter up your credit report, don't they? And with the new bill passing you never know - they may start charging annual fees and cutting the credit limit to an even lower amount. I myself have a $400 credit limit Household Bank account that has stayed the same for 3 years, will never change, and I just want it gone. I'm happy for you that you've made up your mind and are comfortable with your decision!

Starting Score: 670 EQ and 674 TU
Current Score: 670 EQ and 674 TU
Goal Score: 750 both EQ and TU


Take the FICO Fitness Challenge
Message 2 of 16
LuvsRetro
Frequent Contributor

Re: Closing Cards

OP, I'm with you on that decision.   

 

My DH has had them since early 06 and has never received a CLI as well.  His is also Secured.  Don't know if that makes a difference.

 

His score was in the high 700's last year and I thought for sure they would unsecure it or give him an increase. 

 

No.

 

Anyway, now he's got 3 Med Collections (~$72,000)  Smiley Surprised, however his score is 684.

 

So, I guess we'll just leave it alone now.

 

But, for curiosities sake, Please post what "Score Change" you get for the closure as I'm thinking of closing a Walmart card and would like to see what others have experienced.

 

 

Message Edited by teamfico on 06-17-2009 08:32 AM
10/01/2017 myFico EQ-778 TU-793 EX-781
11/01/2017 myFico EX-799, Barclays 11-4 Reported: EQ-796 TU-826 EX-799
Message 3 of 16
Anonymous
Not applicable

Re: Closing Cards


@Anonymous wrote:

 I have a HSBC BB MC,  always PIF in the 3 years I had it.  I have never been late.......ever!  I started at $500 and that is where it remains,and according to HSBC that is where it will ALWAYS be. I read this forum every day,and I have learned alot of valuable info here. For that,I will be forever grateful.

 

 

I have noticed several posts where it states closing of cards is not good for util or age of accounts. However,I will be closing this card as of today. Apparently my business is not important enough to them for a CLI,nor is it important enough for me to talk to a CSR that has sense enough to realize,I am the customer. They have been rude,and most unwilling. I am leaving with a 0 bal and I will deal with the point drop when it happens! But,I do not want to be associated with this stank,I meant bankSmiley Wink another day.

 

Just wanted to add.....Has nothing to do with pride,it's the principle.

 

According to the posts I read, the acct although closed will remain for 10 years on CR and that's fine with me. I can't imagine leaving this acct open one more day. If I go into a store and did not like their service,or a restaurant and did not like the food,I would not return. This is no different to me. If you don't take a stand,you take the fall. This is just my personal rant,and in the end it is me,and only me that will have to deal with whatever happens next. I just can't allow myself to be treated like this.



The King is proud of youSmiley Wink You are doing the right thing..Also I like the analogy about the Restaurant, very true. I feel the same way. I see you have your head held HIGH.

 

KingSmiley Wink

Message 4 of 16
Anonymous
Not applicable

Re: Closing Cards

Seriously King,that means alot to me. I hold you and your advice in the highest regard. I thought hard and long about my decision,because I did not want to regret the move I was making. I did not go off in a huff,because if that were so,I would have closed it when I was on the phone with the rep,who IMO was mean and nasty. 

 

I came here,posted and then called to close it. As suspected,it did not matter to them that they were losing a customer. But,hey,it's only 500 bucks right? Anyway,I am officially not a HSBC customer as of today. But looking back over the past 3 years,makes me wonder......was I ever?

Message 5 of 16
Anonymous
Not applicable

Re: Closing Cards


@Anonymous wrote:

Seriously King,that means alot to me. I hold you and your advice in the highest regard. I thought hard and long about my decision,because I did not want to regret the move I was making. I did not go off in a huff,because if that were so,I would have closed it when I was on the phone with the rep,who IMO was mean and nasty. 

 

I came here,posted and then called to close it. As suspected,it did not matter to them that they were losing a customer. But,hey,it's only 500 bucks right? Anyway,I am officially not a HSBC customer as of today. But looking back over the past 3 years,makes me wonder......was I ever?


And that is the SAD thing..they weren't even fazed. Not bothered one bit that they were losing a great customer. 

I RUN AWAY from those banking institutions. Thank you for those kind words.

 

KingSmiley Wink

Message 6 of 16
Anonymous
Not applicable

Re: Closing Cards

Good for you...sounds like it was time to lose that card. Unless it is one of only 1 or 2 cards that you have or affects your utilization tremendously, I don't believe you'll notice any drop in scores.
Message 7 of 16
Anonymous
Not applicable

Re: Closing Cards

Oh no! I have several other cards,I was just approved for Discover More and Nordstrom. I won't miss BBMC at all.
Message 8 of 16
Anonymous
Not applicable

Re: Closing Cards


@Anonymous wrote:
Oh no! I have several other cards,I was just approved for Discover More and Nordstrom. I won't miss BBMC at all.

Congrats on Discover More & Nordstrom Signature.......good riddens BBMC Smiley Wink Nordstrom is a great card, as i have this very card. They have an in house bank. They will treat you very well.

 

King

Message Edited by 74king on 06-19-2009 07:45 AM
Message 9 of 16
Anonymous
Not applicable

Re: Closing Cards


@Anonymous wrote:
Oh no! I have several other cards,I was just approved for Discover More and Nordstrom. I won't miss BBMC at all.

 

Great! Then the only score drop you might notice would be a temporary drop for new accounts and inquiries. CONGRATULATIONS!!!
Message 10 of 16
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.