04-08-2009 02:15 PM
I'm slightly embarrassed to admit this, but I've had a Credit One Platinum card for over 3 years now. The limit is $900 (started at $250) but I am charged an $89 Annual Fee billed at $6.95 a month. I pay the card in full every month if I have to use it (which I use to keep open), but it's getting annoying trying to remember to pay them $6.95 every month (and if you pay online, they charge you $7.95 the very next month for paying online on top of another AF monthly charge). They will not waive the AF either.
I'm tempted to close this account - my credit has gotten better, still not fabulous. The highest CL it seems you can get with Credit One is $1000 regardless of card. I have other cards that have 3K and 4K on them. I understand utilization and don't think it will harm my UTIL too much. Would you scrap the card??
04-08-2009 05:09 PM
once you have other cards with 3-4k you close credit one. they have served there purpose.
I personally have had mine for about 2 years and everytime I think about closing it, they increase the limit so I keep it another few months! lol
04-08-2009 05:44 PM
04-08-2009 07:41 PM
04-08-2009 07:54 PM - edited 04-08-2009 07:55 PM
Great advice. I think I will close it and hope I don't take a hit. I just closed a stupid Chase one that was opened at the same time with a $200 CL.
Am I pushing it by ALSO closing an HSBC card with a $400 CL? It started out at $200 and they only let you get a bump of $100 once every 6 months. Again, I never use it and it's annoying to have it, it seems. I have 2 credit cards (Target and HSBC Discover) with 3K CL's, a Capital One with a 4K limit, and a wamu with 1,750. I want higher CL's but I'm wondering if these crappy dinky cards are holding me back.
04-08-2009 08:25 PM
...I want higher CL's but I'm wondering if these crappy dinky cards are holding me back.