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I CLOSED my Credit One Visa!!! :-D

Senior Contributor

I CLOSED my Credit One Visa!!! :-D

GOOD Thursday Morning to my fellow FICO Forums members!!!

 

I've had my Credit One Visa since September 2013 and this morning I received the dreaded email notifying me of an upcoming AF of $99.  The card has a $400 CL with a 23.9% interest rate, so I decided to "Let It Go"!  Just got off the phone with a customer service rep and he verified that my account balance is $0 and I requested a letter stating the same and the date that I closed the account.  He asked why I wanted to close and I stated that the interest rate was high and I don't like having an AF on credit cards.  He offered to lower my interest rate for 6 months, but didn't state what the new rate would be and did NOT offer to do anything about the AF.  Therefore, I said go ahead and close the account.  This was the very 1st time I closed a credit card account and I feel absolutely GREAT!!! As you can see in my signature, I have BETTER bank credit cards and Credit One is not needed and my total available credit is now $16,000 even.  My credit journey is looking better with time and I'm looking forward to growing the cards I have.  Smiley Very Happy  

Last App: 10/2/17
Gardening Until Further Notice
15 Credit Cards (10 Major Banks & 5 Store Cards)
No AF's/Overall Utilization Hovers around 4%
Message 1 of 13
12 REPLIES
Valued Contributor

Re: I CLOSED my Credit One Visa!!! :-D


MissMoni223 wrote:

GOOD Thursday Morning to my fellow FICO Forums members!!!

 

I've had my Credit One Visa since September 2013 and this morning I received the dreaded email notifying me of an upcoming AF of $99.  The card has a $400 CL with a 23.9% interest rate, so I decided to "Let It Go"!  Just got off the phone with a customer service rep and he verified that my account balance is $0 and I requested a letter stating the same and the date that I closed the account.  He asked why I wanted to close and I stated that the interest rate was high and I don't like having an AF on credit cards.  He offered to lower my interest rate for 6 months, but didn't state what the new rate would be and did NOT offer to do anything about the AF.  Therefore, I said go ahead and close the account.  This was the very 1st time I closed a credit card account and I feel absolutely GREAT!!! As you can see in my signature, I have BETTER bank credit cards and Credit One is not needed and my total available credit is now $16,000 even.  My credit journey is looking better with time and I'm looking forward to growing the cards I have.  Smiley Very Happy  


Congrats Smiley Happy


My Cards: Amex BCE: $9,000, Amex Hilton HHonors: $2,000, Amex ED: $12,000, Barclays NFL extra points: $3,000, Bank of America MLB cash rewards: $17,000, BBVA compass NBA Amex triple double rewards: $17,000, Chase Amazon: $1,000, Chase Freedom: $9,000, Chase Sapphire: $5,000, Chase Slate: $5,000, Chase Disney: $4,000, Citi Double Cash: $5,400, Citi AA plat: $5,500, Citi Simplicity: $3,000, Citi Thank you preferred: $8,800, Capital one GM: $2,000, Capital one PlayStation: $3,000, Gamestop: $1,150, Amazon Store: $5,000, Ebay MasterCard: $5,000, American Eagle Storecard: $750, Macy's: $500
EX: 744, TU:750, EQ: 740
Message 2 of 13
Mega Contributor

Re: I CLOSED my Credit One Visa!!! :-D

Congrats! Thanks for sharing.

 

 

Discover IT $17k / US Bank Ace (VSig) $13.5K / US Bank Cash+ (VSig) $13.5k
Sam's Mastercard $13.5k / Walmart Mastercard $10k / Blispay $7.5k PayPal Ex MC $6.1k
CareCredit 5k / Husq $5k / Cap1 QS $4.5k / Barclay Ring $4.85k / Citi DC (WMC) $7.1k
Gardening Date 7/01/16 / MyFico 08: EQ 801 / TU 777 / EX 771 / 06/08/17
Message 3 of 13
Established Contributor

Re: I CLOSED my Credit One Visa!!! :-D

Congrats! 

Amex PRG: NPSL | Amex Blue Cash Everyday: $15,300 | Navy FCU Cash Rewards: $19,500 | Chase Marriott Rewards: $7,500
Chase Freedom: $5000 | Discover It: $5000 | Barclays Extra Points: $5000
23 year old building credit since age 17. FICO: 783
NPSL
Message 4 of 13
Frequent Contributor

Re: I CLOSED my Credit One Visa!!! :-D

Congrats it is always good to let go a credit card builder with ridiculous fees and rates.

Pre-Ch7 scores low 500's Post Ch-7 Low 600's
Navy Fed Cash Rewards $4.5k Primor $200 Credit One $300
Currently in rebuilding stages.
Message 5 of 13
Senior Contributor

Re: I CLOSED my Credit One Visa!!! :-D


Florida1990 wrote:

Congrats it is always good to let go a credit card builder with ridiculous fees and rates.


My sentiments EXACTLY!!! I was just waiting my time out and the AF notification was my Exit que!!!

Last App: 10/2/17
Gardening Until Further Notice
15 Credit Cards (10 Major Banks & 5 Store Cards)
No AF's/Overall Utilization Hovers around 4%
Message 6 of 13
Regular Contributor

Re: I CLOSED my Credit One Visa!!! :-D

Congrats!! (Although my eyes hurt after reading that font..lol)

CSP $9500, CapitalOne VentureOne Sig Visa $8000 Chase Freedom Sig Visa $5000, Citi ThankYou Preferred Sig Visa $5000, Amazon Store Card $5000, Discover IT $4800, CapitalOne Quick Silver MasterCard $4000, Fidelity AMEX $4000, Sallie Mae Mastercard $3300, Hilton Honors Sig Visa $3300, Citi Double Cash $2700, SunTrust Cash Rewards $2500, Citi Simplicity Visa $2300, AMEX BCE $2000, AMEX Everyday $2000, AMEX Delta SkyMiles $2000, Amazon Reward Visa $1800, BP VIsa $1800, Barclays Apple Visa $1700, Suncoast FCU $1000, Target REDCard $900

Current Scores: EQ 727 (Fico), EX 735 (Fico) **In the Garden unti....forever.
Message 7 of 13
Established Contributor

Re: I CLOSED my Credit One Visa!!! :-D

Congrats! It's a wonderful feeling!

NFCU CashRewards $13.5k | AMEX BCE $15k | Lowes $17k | Sportsmanss guide $7.6k | Chase Freedom $1k | Discover IT $4.4k |
Walmart $8k | Gordman's $2950
Message 8 of 13
Regular Contributor

Re: I CLOSED my Credit One Visa!!! :-D

Congrats!  I too just closed my credit one bank card yesterday and my feeling is mutual....great feeling to know that you are moving on up in your credit journey and you're finally in a position to not have to take just any old crappy card anymore just to get a credit history....its great isn't it!  Way to go...happy for ya!




Message 9 of 13
Senior Contributor

Re: I CLOSED my Credit One Visa!!! :-D


--HighHopes-- wrote:

Congrats!  I too just closed my credit one bank card yesterday and my feeling is mutual....great feeling to know that you are moving on up in your credit journey and you're finally in a position to not have to take just any old crappy card anymore just to get a credit history....its great isn't it!  Way to go...happy for ya!


THANKS, I totally agree!  BTW, I absolutley LOVE your screen name, which is definitely great to have in terms of credit!!! Smiley Happy

Last App: 10/2/17
Gardening Until Further Notice
15 Credit Cards (10 Major Banks & 5 Store Cards)
No AF's/Overall Utilization Hovers around 4%
Message 10 of 13