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Epic Contributor
Creditaddict
Posts: 20,823
Registered: ‎10-23-2007
0

Credit One...CLOSED

I called and after 2 years I told them I would not pay there monthly fee anymore and she put me on hold and then told me she would not waive the fee so I closed the account.

They did not try to save it or anything, she told me that I needed it for rebuilding, I was like after 2 years I think the rebuilding part is over... not completely but like I'm going to discuss that with her.

The $650 CL does nothing for me. 

Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 695 NASA(10-6-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:
Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007

Re: Credit One...CLOSED

Congrats! No more monthly fees. No more online payment fees. No more 20-some-odd percent APR. No more AF. You'll come back. Oh, yes, you'll come back.

My card will join yours come this fall.
Epic Contributor
Creditaddict
Posts: 20,823
Registered: ‎10-23-2007
0

Re: Credit One...CLOSED

that was the last of my "rebuilder" cards I had.

and since Bank of America felt like I was good enough today by graduating my card and giving me CLI I felt like it was time to get rid of them. 

Fico Scores: EQ- 682 DCU, TU 696 Walmart, EX 695 NASA(10-6-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
63 Cards and Counting :smileytongue:
Frequent Contributor
74king
Posts: 403
Registered: ‎04-08-2009

Re: Credit One...CLOSED


Creditaddict wrote:

I called and after 2 years I told them I would not pay there monthly fee anymore and she put me on hold and then told me she would not waive the fee so I closed the account.

They did not try to save it or anything, she told me that I needed it for rebuilding, I was like after 2 years I think the rebuilding part is over... not completely but like I'm going to discuss that with her.

The $650 CL does nothing for me. 


You did the right thing, even if you do take a minor ding. It will be worth it in the long run because their is so much better cards out there. :smileywink:

Equifax 787, TransUnion 793, Experian ? FAKO--> Who Cares
Established Contributor
Itsmeagain
Posts: 832
Registered: ‎01-16-2008
0

Re: Credit One...CLOSED

Congrats CA . . . :smileyhappy:

 

I have been seeing your posts and am thrilled that you have come so far.  It wasn't long ago that I was in a similar situation and opted to close three cards; Walmart 300; Crap 1  600; and Orchard 500.  I took a small score hit for that but they were going nowhere and were expensive.  After those, I started with store cards; Macys and Best Buy.  My first big CL was Hooters Mastercard - 2800.  After that I got the Macys Visa and Best Buy Visa.  Then it was just a matter of a few short months and I qualified for Discover, BoA Platinum rewards, and Amex Gold Rewards.  My total CL's are now over 50 K and I can qualify for whatever I want (but I'm out of the game until they all have their 1st birthday).

 

Bottom line . . . . I never regret closing those starter cards and never looked back.

 

Good luck,

 

IMA


Starting Score: TU 737 EQ 721
Current Score: TU 741 EQ 741
Goal Score: TU 765 EQ 760


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Established Contributor
FaircreditguyFL
Posts: 665
Registered: ‎03-31-2007
0

Re: Credit One...CLOSED

Nice!!  Good job!
Contributor
Posts: 103
Registered: ‎02-12-2009
0

Re: Credit One...CLOSED

I plan on closing my rebuilder cards as well, after I close on my house.  I know by doing that it'll increase my overall util, but I don't care.  They charge AF and the APRs are outrageous.  The only thing holding me back is that of course they happen to be my oldest cards @ 3.5 years.  But the sooner I close them, the less effect it will have on my score.  I think I'm through looking for new credit anyway.  It'll report for 10 years, by then my AAofA will be 6-7 years, so its not that big of deal, I hope :smileyhappy:

 

BTW, the rebuilder cards are Cap 1(two of 'em) and an HSBC. 


Starting Score: 719
Current Score: 762
Goal Score: 800


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Established Contributor
Ulan
Posts: 790
Registered: ‎09-09-2008
0

Re: Credit One...CLOSED

Congrats! That sounds like a nice milestone on your way to good credit.
Contributor
NinComPoop
Posts: 93
Registered: ‎03-14-2009
0

Re: Credit One...CLOSED

Good for you!  I look forward to the day I put up two similar posts about First Premier & Continental Finance. :smileywink:
Member
Mapleton
Posts: 15
Registered: ‎05-09-2009
0

Re: Credit One...CLOSED

Good job!  Don't let those sub prime companies take advantage of you any longer than they have to.

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