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.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.