Recent Orchard Secured/Cap 1 experiences?

[modernsurrender]

I have until Feb. of next year to close my Secured Orchard card account with it's piddly $200 limit that I opened while rebuilding back in 2008, but I'm thinking about doing it now just so I have one less card to worry about, so that Cap 1 won't hold it against me in terms of card limits if I decide to apply with them for another card in the near future (which I don't actually plan to do), so that other companies won't use it as an excuse not to CLI me based on my "available credit" and because I'm sure getting the deposit back will take a while.

Has anyone had any surprisingly good experiences when doing this since the take over became more official?  Like offers to unsecure/CLI when you call to cancel now that it's owned by Cap1?  (I know, I'm silly to even think it, but we can dream can't we? Lol)

Thanks!

[LS2982]

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@modernsurrender wrote:

I have until Feb. of next year to close my Secured Orchard card account with it's piddly $200 limit that I opened while rebuilding back in 2008, but I'm thinking about doing it now just so I have one less card to worry about, so that Cap 1 won't hold it against me in terms of card limits if I decide to apply with them for another card in the near future (which I don't actually plan to do), so that other companies won't use it as an excuse not to CLI me based on my "available credit" and because I'm sure getting the deposit back will take a while.

Has anyone had any surprisingly good experiences when doing this since the take over became more official?  Like offers to unsecure/CLI when you call to cancel now that it's owned by Cap1?  (I know, I'm silly to even think it, but we can dream can't we? Lol)

Thanks!

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What other cards do you have?

[modernsurrender]

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@LS2982 wrote:

What other cards do you have?

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Not sure I see how it applies to my query, but I have:

BoA - Opened 08 - 0/$800 w/ af (on the chopping block in spring)

Orchard - Opened 08 - 0/$200 w/ af (on the chopping block in spring, or now)

HSBC - Opened 09 - 0/$950

Victoria's Secret - Opened '12 - 0/$500 

Chase SW - Opened '12 - $470/$3000 w/af

Cap1 - Opened '12 - 0/$500  

Discover More - Opened '12 - $480/$1000

Amex Zync - Opened '12 

I'm not worried about Util/AAoA (since it won't be a factor for 10 years)/Score changes from closing etc because I won't be applying for anything until Barclay's in late Oct/Nov.  Just looking to see if Cap1 is doing anything to try to and encourage users to hold onto these cards when they call in to part with them

[LS2982]

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@modernsurrender wrote:

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@LS2982 wrote:

What other cards do you have?

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Not sure I see how it applies to my query, but I have:

BoA - Opened 08 - 0/$800 w/ af (on the chopping block in spring)

Orchard - Opened 08 - 0/$200 w/ af (on the chopping block in spring, or now)

HSBC - Opened 09 - 0/$950

Victoria's Secret - Opened '12 - 0/$500 

Chase SW - Opened '12 - $470/$3000 w/af

Cap1 - Opened '12 - 0/$500  

Discover More - Opened '12 - $480/$1000

Amex Zync - Opened '12 

I'm not worried about Util/AAoA (since it won't be a factor for 10 years)/Score changes from closing etc because I won't be applying for anything until Barclay's in late Oct/Nov.  Just looking to see if Cap1 is doing anything to try to and encourage users to hold onto these cards when they call in to part with them

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IMO I would just shut it down when the yearmark comes. If they do give you a CLI it won't be much and you have plenty of better accounts to offset that rebuilder account.

[modernsurrender]

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@LS2982 wrote:

IMO I would just shut it down when the yearmark comes. If they do give you a CLI it won't be much and you have plenty of better accounts to offset that rebuilder account.

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Right, I plan to close it around it's 5 year anniversary at the latest unless they offer something super impressive (which is doubtful), but I don't see much reason to wait for the very reasons that you mentioned unless people are getting any sort of enticing offers to keep it open since the take over.

The only reason to wait until closer to the anniversary would be to slightly delay the timeframe of the AAoA hit by a few months, which I don't see any point in since 10 years down the road my AAoA will be much better than it is now and the couple months of history on a single card won't make a significant difference.

On the flip side, keeping it open can give lenders the out of denying credit/CLIs based on "having enough available credit" which was the last resort excuse that the BoA rep gave me a few months back when I reconed a CLI denial and pushed the issue after refuting the first list of reasons he gave lol.  Of course I think this is a pretty last stitch effort from CSRs to get us to give up when we push the issue hehe