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Frequent Contributor
MissMoni223
Posts: 821
Registered: ‎03-23-2014

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.  :smileyvery-happy:  

Last App 7/26/14
Contributor
Closingracer99
Posts: 568
Registered: ‎06-21-2014

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.  :smileyvery-happy:  


Congrats :smileyhappy:


EX:705, TU:725, EQ: 682
Mega Contributor
coldnmn
Posts: 11,290
Registered: ‎08-08-2011

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

Congrats! Thanks for sharing.

 

 

My Wallet /US Bank Cash+ Signature $10,000/ Ace US Bank $10,000 / Sam's Mastercard $8000
/ Walmart Discover $8000 / Discover IT $5000 / Care Credit $5000
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Last App 10/25/13 /
Established Contributor
MT936
Posts: 573
Registered: ‎06-28-2014

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

Congrats! 


NPSL...................$7500..................$5100...................$2500...................$2500..................$1300..................$500..........

21 year old college student. 751 FICO. Been building credit since age 17. Last APP 7/14/14

New Contributor
Florida1990
Posts: 198
Registered: ‎05-25-2014

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.

Capital One SC $1,800 Capital One QS1 $300 Discover IT $1,000 BBY SC $1,000 CareCredit $1,000 US Bank $300 First Progress $300 Walmart SC $700 Express Next $250 Lowes $300 TiresPlus $800
Discover Fico Transunion 630/ Lender Pull Experian 610 /Equifax 654
Frequent Contributor
MissMoni223
Posts: 821
Registered: ‎03-23-2014

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 7/26/14
Regular Contributor
collinsridge
Posts: 133
Registered: ‎08-26-2012

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

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

Discover IT (3/12) $1500, Capital One Quick Silver (8/12) $4000, Chase Freedom Visa (11/12) $5000, Citi Simplicity Visa (12/12) $3000, Target RedCard $300 (12/12), SunCoast Schools FCU Visa (3/13) $1000, Barclays Apple Visa $1700 (8/13), AMEX BCE $2000 (12/13), Citi ThankYou Preferred $5000 (4/14), Amazon Rewards Visa $1800 (5/14), Capital One VentureOne $5000 (6/14), Chase Sapphire Preferred $5000 (7/14), Fidelity Cash Rewards AMEX $2000 (7/14), SallieMae Mastercard $2000 (7/14)

Current Scores: EQ 701 (Fico), EX 707 (Fico) **In the Garden unti....forever.
Frequent Contributor
tattooedhusker
Posts: 490
Registered: ‎10-25-2012

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

Congrats! It's a wonderful feeling!

NFCU CashRewards $13.5k | AMEX BCE $9.5k | Lowes $17k | Sportsmanss guide $5.5k | Chase Freedom $1k | Discover IT $1.4k |
Walmart $8k | Gordman's $1750 |
Scores: EQ: 676 EX: 714 TU: 720 Goal: 750 across the board
New Contributor
--HighHopes--
Posts: 50
Registered: ‎07-01-2014

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!



Starting Score: 560
Current Score: EX:730 TU:683 EQ:676
Goal Score: 750


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Frequent Contributor
MissMoni223
Posts: 821
Registered: ‎03-23-2014

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!!! :smileyhappy:

Last App 7/26/14

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