Happy to say that I called and closed my Credit One Visa today before the renewed AF at the end of the first year. The card was a joke but it was a big part of my rebuild, so no complaints here. I had a $600 limit, used it for a couple of auto billed payments each month ($40. total) and always paid it off as soon as the charges posted. In anticipation of closing it in January 2017, I stopped using it in November.
Funny though, beware of the process of shutting down the card. I told the rep that I wanted to close my account and she transfered me to an 'account specialist'. This guy spent 10 minutes telling me that 'if you are willing to make a good financial decision today' (lol) he would reduce my annual fee to 'only' $10, even though Credit One had to pay much more to report to all three bureaus, he would 'help me out'. Ha, ha...this was great, what a pitch...When I explained that I wasn't interested and that the card no longer worked for my profile, he said that he had the authority to offer me a new interest rate, 2% lower (wait for it...) for 6 months. He then said that he could even authorize a review of my credit line to see if anything could be done. Wow...he was working it. In the end, he said he would close the account right then, but that if I decided to stay as a Credit One Bank customer, I would have to reapply and there was no guarantee that I would be approved again in the future. Really???
So, after 15 minutes of my life that I'll never get back, he closed the account. This morning when I checked, it appears closed but you can bet I will watch it like a hawk until it reports zero/closed by consumer/gone/done on my credit reports. When I checked my email a little later this morning, it said there was a document waiting and to sign into Credit One to view it. Assuming it was confirmation of the closure, I checked but it was a denial for the credit limit increase I didn't ask for, due to ' account has been open less than one year'. Four days less than a year...clowns!
No hard or soft pull so far but I'll be watching for that as well. What a workout! Easy to get in...hell to get out, as my grandfather used to say.
Anyway, glad to be done with them and remove them from my siggy!!
Chapter 7: Discharged November 2015
11/15 Fico 8: EQ-585, TU-550, EX- 551
01/17 Fico 8: EQ-695, TU-703, EX-673
Cap One Platinum $2K>$4K, Cap One Quicksilver $3K, Discover $1,600>$1800>$2300, SPGVisa $4500, Red Roof Inn Siggy Visa $5K, Good Sam/Camping World Visa $1800, Overstock $7K>$7300, Lowe's $6K>$17K, NFCU Cash Rewards Visa $4600>$22K, NFCU CLOC $15K, NFCU Go Rewards $5500, Advantis CU Platinum Siggy Visa $25K, PenFed Promise Visa $10,500, PenFed Plat Rewards Visa Siggy $5500, Evine $1K>$5K
Thanks for the GREAT tip rmduhon, I will call for a confirmation letter now!
Really appreciate it!!
@ 12veletronics, you are so right! I didn't know it would feel so good to drop the dead weight!
Comenity cards are next later this winter
Thanks Dinosaur! It's a good day!!
Nice going Wade! What they need specifically to deal with Credit One is a Ferris Beuller voice recorder to deal with their sales pitch, have preselected replies and just go enjoy a ball game