Credit Cards

[somnipotent]

I've got one more payment to get rid of my last Crap1... but I am an AU on my wife's two which I will be keeping open until we finish working on building up her score.  I will probably go back to Crap1 for their Venture card, but not anytime too soon.  I'm in the garden.

[RonDawg]

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overwhelmed_2010 wrote:

Yep I am right there with ya'll!! I hate CRAP-ONE as they have NOT been really all that great to me..PLUS I have an AF that I didn't realize was assesed!!! Ughhh..I am scared though to close this account because I've had it for like 2 years..any suggestions??? I don't know how hard of a hit it'll take on my CR???

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check your report, find out how many cards are reporting and the age of each card.  Add all the ages up and divide that number by the total amount of cards you have be sure to remove the CrapOne card and age from the total before dividing.  That will give you the average age of accounts you have without CrapOne as long as you don't drop years from your average you should be fine.   Lets say your average years for all your accounts is 5.8 years and you remove crapone that causes your average age to drop to 5 years then your fine but if it causes you to drop to 3.8 then your score will be adjusted to match that average age of accounts.

[SevenNEW]

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bernhardtra wrote:

I want to close my card, but they keep waiving the annual fee.  Until they stop doing that I will keep it open.

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I also have one w/o AF, no reason really to close it. I went through the credit steps, they gave me a card when nobody else would, and paved my way to Amex and Chase. No hard feelings -- if you read this forum you will know these are jump-start cards and shouldn't be disappointed if they don't grow...

[toppers555]

I agree with you to a point but problem is my secured was said to be gradurate when I apply and they changed terms without a warning besides that and holds Capitol has help me grow.

[toppers555]

I know someone in mention they had Ceo email address to capitol one. I have been looking and can not find the address or the post of person who said they had it. If you could pm it to me that would be great. I just got off line with csr about my  security deposit .lets just say 65 mins later of 2 rep reading the same script , and finally getting a mgr. I have some hot air that needs to vent.  this call ,and in general how they have been handling my accounts is far from acceptable.  I have already contacted social team ,and filed BBB reports on this situration in general , so I am not just shotgunning it to top , I have tried other path to no help. 

[Cadillac-XTS]

Congrats

[mlevi2538]

WOW !

[maiden_girl]

Why is everyone closing their cards? If its unsecured and there's no annual fee...I'd keep it open. It will help with UTL and AAoA. CAP1 is my oldest tradeline and although I don't particularly like the card anymore, it helped me get my foot in the door and on to better cards. I won't be using it anymore. It has served its purpose but I definitely won't be closing it.

[JonStur]

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maiden_girl wrote:

Why is everyone closing their cards? If its unsecured and there's no annual fee...I'd keep it open. It will help with UTL and AAoA. CAP1 is my oldest tradeline and although I don't particularly like the card anymore, it helped me get my foot in the door and on to better cards. I won't be using it anymore. It has served its purpose but I definitely won't be closing it.

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+1000 Unless there is some outrageous AF, keep it open especially if you have a thin credit file. Also, there might not be a large credit line but it still will help your overall utilization. It is up to you but I would suggest closing your card for business not emotional reasons.

[distantarray]

you know I gotta say having ONE Capital One is good for 1 purpose, and 1 purpose only. They report ALL authorized users..... So it's great for helping friends and families in need.