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Regular Contributor
Posts: 185
Registered: ‎07-18-2013
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Closing a secured Card.

When is the best time to close a secured card? My secured card with cap1 is 351 w/ 35 Af, should I close it now or just keep it and keep using it. Although my credit is new I am having a second thought. Any advice?

Zions -2500
Dillards-1800
Chase-2200
Amex TE- 4500
BCE- 4400
Discover-8750
Heart trying to reach 800! Heart
Gardening till 12/14 Smiley Tongue
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Senior Contributor
Posts: 27,573
Registered: ‎02-07-2013
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Re: Closing a secured Card.


newbiewife wrote:
When is the best time to close a secured card? My secured card with cap1 is 351 w/ 35 Af, should I close it now or just keep it and keep using it. Although my credit is new I am having a second thought. Any advice?

Zions -2500
Dillards-1800
Chase-2200
Amex TE- 4500
BCE- 4400
Discover-8750

What are you doing out of the garden...Lol joking

Wait until your 3X CLI is complete and then make your choice but either way your not losing much UTL wise. How old is the card?

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Regular Contributor
Posts: 185
Registered: ‎07-18-2013
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Re: Closing a secured Card.

Geee not that old 10 months old. Hehehehe.... don't worry myjourney I'm not doing anything silly! Smiley Tongue
Heart trying to reach 800! Heart
Gardening till 12/14 Smiley Tongue
Community Leader
Senior Contributor
Posts: 27,573
Registered: ‎02-07-2013
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Re: Closing a secured Card.


newbiewife wrote:
Geee not that old 10 months old. Hehehehe.... don't worry myjourney I'm not doing anything silly! Smiley Tongue

So the AF is coming up? 

Shut it down then you're in great shape with great cards now and as for the highlighted area....good Lol

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Regular Contributor
Posts: 185
Registered: ‎07-18-2013
0

Re: Closing a secured Card.

Yes AF is coming up I don't mind the AF, its just the thought of if I keep it for many years then suddenly shut down then I lost long history. I'm still waiting for 3xCLI. Heheheheh Heart
Heart trying to reach 800! Heart
Gardening till 12/14 Smiley Tongue
Community Leader
Senior Contributor
Posts: 27,573
Registered: ‎02-07-2013
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Re: Closing a secured Card.


newbiewife wrote:
Yes AF is coming up I don't mind the AF, its just the thought of if I keep it for many years then suddenly shut down then I lost long history. I'm still waiting for 3xCLI. Heheheheh Heart

Since all your accounts are new your not losing anything but maybe a few months of AAoA

And the positive TL will still report for 10 years so if your going to do it now is the best time IMO

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Regular Contributor
Posts: 185
Registered: ‎07-18-2013
0

Re: Closing a secured Card.

Okie dokie myjourney. Thanks! See yah in the garden Smiley LOL
Heart trying to reach 800! Heart
Gardening till 12/14 Smiley Tongue
Community Leader
Senior Contributor
Posts: 27,573
Registered: ‎02-07-2013
0

Re: Closing a secured Card.


newbiewife wrote:
Okie dokie myjourney. Thanks! See yah in the garden Smiley LOL

Smiley Very Happy 

Don't forget the party tonight

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Moderator
Posts: 13,897
Registered: ‎04-15-2011
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Re: Closing a secured Card.

You've got some pretty nice cards to take its place now.  It may be time to cut the cord.  Smiley Wink

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Regular Contributor
Posts: 185
Registered: ‎07-18-2013
0

Re: Closing a secured Card.

Party? We have party in the garden????

@shogun- thanks I think that's what I'm going to do.:smiley:
Heart trying to reach 800! Heart
Gardening till 12/14 Smiley Tongue
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