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New Contributor
NiNoMArksLA
Posts: 118
Registered: ‎11-01-2012
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Help With My Credit Card!!!

Hello i Got That Pre Appoved For Credit One Online For $300 And i Got The Card But I Closed It Out 2 Days Ago I Didnt Want The Card People On This Forum Said Its a Bad Card For Fee's I Really Don't Care About Fee's That Much But I Got The Card Today Sayin Welcome Heres Your Card So I Called Up And Said i Closed My Credit Card Out And The Lady On The Phone Said You Have a 7-10 Days To Reconsider For The Offer Then My Dad Walks In And Says Just Keep The Card For a Year Just To Get Better Report So I Told The Lady Just Active The Card She Says OK Done Is That a Bad Thing I Did I Really Dont Know Also My New Capital One Cash Rewards Card Came In To So I Have 2 More Now And I Think Of Closeing Express Applyed 3 Months Ago Its a $150 Limt I Think I Am Gonna Close That Tomorrow

 

Sorry For The Long Typeing And Capital One How Dose The CLI Work With Them Thats My 2st Card From Them?

New Contributor
ssdc1980
Posts: 62
Registered: ‎05-03-2012
0

Re: Help With My Credit Card!!!

If you have already paid the initial AF for the Credit One card then I suppose what's done is done at this point. I would listen to your pops and hold on to the card for a year and let it help both your AAOA and UTL and then axe it right before the AF renews. After which NEVER look back.

I would continue to pump money into that BOA secured card in order to build your CL. I'm pretty sure that if handled responsibly the BOA card will eventually graduate and then grow with you quite nicely.

As far as CLI's and Capital One go, don't get your hopes up. Although I believe that If you are in the credit steps program than after 6 months of good payment history they give you a $250 CLI and that's the end of that.

Epic Contributor
Creditaddict
Posts: 22,037
Registered: ‎10-23-2007
0

Re: Help With My Credit Card!!!


NiNoMArksLA wrote:

Hello i Got That Pre Appoved For Credit One Online For $300 And i Got The Card But I Closed It Out 2 Days Ago I Didnt Want The Card People On This Forum Said Its a Bad Card For Fee's I Really Don't Care About Fee's That Much But I Got The Card Today Sayin Welcome Heres Your Card So I Called Up And Said i Closed My Credit Card Out And The Lady On The Phone Said You Have a 7-10 Days To Reconsider For The Offer Then My Dad Walks In And Says Just Keep The Card For a Year Just To Get Better Report So I Told The Lady Just Active The Card She Says OK Done Is That a Bad Thing I Did I Really Dont Know Also My New Capital One Cash Rewards Card Came In To So I Have 2 More Now And I Think Of Closeing Express Applyed 3 Months Ago Its a $150 Limt I Think I Am Gonna Close That Tomorrow

 

Sorry For The Long Typeing And Capital One How Dose The CLI Work With Them Thats My 2st Card From Them?


1. My as well keep Credit One, really in the early stages of rebuilding Credit One is not THAT terrible, at least you know you can get $100-$200 CLI Every 6 months unlike some other rebuilders like your capital one that does get credit steps $300 up to $500 at 6 months no lates or over credit line. but then it will sit!

2. Push all money through Bank Of America, when you get that unsecured at 9-12 months, THEN close Credit One.

3. If you shop at Express you should keep the card, the rewards are great and they will start to give CLI after 6 months, you can sask also but they are known to be very good about auto cli and it has no annual fee so you should just keep.

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
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Valued Contributor
nicholasyud
Posts: 1,737
Registered: ‎08-13-2012
0

Re: Help With My Credit Card!!!

I think you should stop the habit that closing account like that......I mean if you really want to s rebuild your credit then number one thing you need to let all of your current account open at least for two years then after that consider to closed some account come with AF. Let your acc aged don't just open some acc for a few months then closed out like that. It's look horrible in your credit profile.


Starting Score: 560
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Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Established Contributor
kobe2012
Posts: 697
Registered: ‎03-16-2012
0

Re: Help With My Credit Card!!!

I ruined my credit in 2005 and i have been paying cash on everything until one day in jan of 2011 i finally got my first preapproval in the mail, for credit one! So i applied for it regardless of the large fees... Got approved for $300... Few days later, a capital one plat preapproval came in and my gf told me to close the credit one and apply for cap one since the AF was only $59 (approved for $300) .... i close the credit one and its weird how i never saw it on any of my reports.... Anyway, fast forward, i used the capital one for one year and i got 7 cards this year... I think one or two cards is sufficient to build and good payment history and Capital one is the card that will help you get to where you wanna be in a year or two....

Starting Score: TU: 598 03/23/2012 EQ:607 05/24/2012 EX:607 04/26/2012 (lender pull) EX FAKO:522 03/2012
Current Score: TU(Myfico)04/2013:689 EQ(Myfico)04/2013:701 EX(AMEX pull)04/01/2013:675 (CreditSecure FAKOS) 5/14/2013 EX:726 EQ:701 TU:730 TU(Walmart):699
Barclay Rewards:5k/Cap1:$3.5k/Cap1:$2.5k/Citi TYP:2k/Freedom:$5k/Slate:3k/Marriott visa sig 5k/BCE:$1k/Zync: $500 PSL/Discover IT:$1.9k/Walmart:$8k/Chevron:$5k/Gap:$5k/Kay:$3.4kk



Established Member
NhanNguyen
Posts: 14
Registered: ‎10-10-2012
0

Re: Help With My Credit Card!!!

You have 10 days to close credit card with no used. They will not report to your credit report !

Established Contributor
kobe2012
Posts: 697
Registered: ‎03-16-2012
0

Re: Help With My Credit Card!!!


NhanNguyen wrote:

You have 10 days to close credit card with no used. They will not report to your credit report !


I applied and got approved for  Barclays nfl visa.... I closed the account 2 mins after I applied cause of the low limit....it just reported on my EX today... would they delete the account?


Starting Score: TU: 598 03/23/2012 EQ:607 05/24/2012 EX:607 04/26/2012 (lender pull) EX FAKO:522 03/2012
Current Score: TU(Myfico)04/2013:689 EQ(Myfico)04/2013:701 EX(AMEX pull)04/01/2013:675 (CreditSecure FAKOS) 5/14/2013 EX:726 EQ:701 TU:730 TU(Walmart):699
Barclay Rewards:5k/Cap1:$3.5k/Cap1:$2.5k/Citi TYP:2k/Freedom:$5k/Slate:3k/Marriott visa sig 5k/BCE:$1k/Zync: $500 PSL/Discover IT:$1.9k/Walmart:$8k/Chevron:$5k/Gap:$5k/Kay:$3.4kk



Community Leader
Valued Contributor
improvingmycredit
Posts: 1,402
Registered: ‎07-12-2011
0

Re: Help With My Credit Card!!!


NiNoMArksLA wrote:

Hello i Got That Pre Appoved For Credit One Online For $300 And i Got The Card But I Closed It Out 2 Days Ago I Didnt Want The Card People On This Forum Said Its a Bad Card For Fee's I Really Don't Care About Fee's That Much But I Got The Card Today Sayin Welcome Heres Your Card So I Called Up And Said i Closed My Credit Card Out And The Lady On The Phone Said You Have a 7-10 Days To Reconsider For The Offer Then My Dad Walks In And Says Just Keep The Card For a Year Just To Get Better Report So I Told The Lady Just Active The Card She Says OK Done Is That a Bad Thing I Did I Really Dont Know Also My New Capital One Cash Rewards Card Came In To So I Have 2 More Now And I Think Of Closeing Express Applyed 3 Months Ago Its a $150 Limt I Think I Am Gonna Close That Tomorrow

 

Sorry For The Long Typeing And Capital One How Dose The CLI Work With Them Thats My 2st Card From Them?


Hey NiNoMArksLA!

my .02 cents- keep the card if you don't mind the AF.  I used Credit One to build my credit.  In a year, if you feel differently, ax them then before the AF hits.  Plz, don't close any of your trade lines if they don't have an AF (Express).  The damage is already done with regards to AAoA and the HP.  Sock drawer it if you don't use it.  Let it age till it gets closed or until you decide to use it.  It will grow and help with future utility.  


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