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Is it Better to Close or Let Close?

Established Contributor

Is it Better to Close or Let Close?

So I was wondering, from a credit report stand point. Does it look better to creditors if you have a tradeline that was cancelled due to inactivity, or does it look better if you requested to close the tradeline?

 

I was thinking about closing my Buckle card because I never use it. So I was wondering if I should just hang on to it and let them close it, or if I should request it to be closed. I guess since there is no annual fee it wouldn't matter, but I wanted to make sure if it were looked at any differently depending on how the tradeline was closed.

 

It's served it's purpose in helping me rebuild. Thinking Cap1 will be next as soon as the AF comes due again.

 

Thanks for any help in this.


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Message 1 of 13
12 REPLIES
Super Contributor

Re: Is it Better to Close or Let Close?

As far as the CAP 1 many people are having the AF removed as well as add rewards through the EO you may wish to also go that route


BrokaToe wrote:

So I was wondering, from a credit report stand point. Does it look better to creditors if you have a tradeline that was cancelled due to inactivity, or does it look better if you requested to close the tradeline?

 

I was thinking about closing my Buckle card because I never use it. So I was wondering if I should just hang on to it and let them close it, or if I should request it to be closed. I guess since there is no annual fee it wouldn't matter, but I wanted to make sure if it were looked at any differently depending on how the tradeline was closed.

 

It's served it's purpose in helping me rebuild. Thinking Cap1 will be next as soon as the AF comes due again.

 

Thanks for any help in this.


 

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 2 of 13
Established Contributor

Re: Is it Better to Close or Let Close?


myjourney wrote:

As far as the CAP 1 many people are having the AF removed as well as add rewards through the EO you may wish to also go that route


How are they doing that, through e-mail, phone call? You're talking the executive offices right? I forgot to mention the Cap1 is secured. Smiley Frustrated


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Message 3 of 13
Super Contributor

Re: Is it Better to Close or Let Close?

You can read through some of the threads as far as the secured cards but its all done via email and im sending you the infoSmiley Happy

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 4 of 13
Established Contributor

Re: Is it Better to Close or Let Close?

Awesome, thanks a bunch!


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Message 5 of 13
Super Contributor

Re: Is it Better to Close or Let Close?


BrokaToe wrote:

Awesome, thanks a bunch!


Sent via PM.............Good Luck

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 6 of 13
Established Contributor

Re: Is it Better to Close or Let Close?


myjourney wrote:

BrokaToe wrote:

Awesome, thanks a bunch!


Sent via PM.............Good Luck


Great, Thank You! I will post an update, how long did it take you to get a response on the situation?

 

As for Closing the Buckle card, still wondering if I should close it or let it close, anyone have thoughts on that?


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Message 7 of 13
Super Contributor

Re: Is it Better to Close or Let Close?

emailed on a thursday

they called me monday

CLI posted to acct. thursday

called me on friday to confirm the changes they had made to my accounts (2)

 

As for closing the other accounts either by you or issuer im hoping someone answers that question as well im interested too. I personally don't believe in closing an accounts..unless it has extensive fees associated with it

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 8 of 13
Valued Member

Re: Is it Better to Close or Let Close?

May I get that pm as well?  My card is not secure, but the CL is only $500.




Message 9 of 13
Valued Contributor

Re: Is it Better to Close or Let Close?

Google "capital one ceo email"

 

and you get it in the first two results.

Message 10 of 13