Should I close Secured Discover card?

[Anonymous]

Had it for 18 months going on 19 now. Perfect history with the card. Dont carry balances,never late,pay in full,barely use it now. Customer service gives me the same scripted response everytime I inquire about being unsecured. I even reached out to their EO and after a few days they called me back and gave me the exact same response as customer service. Im only on the fence because It was my first card I got to start my rebuild. So I guess it holds sentimental value lol. I honestly dont really need it now with my other cards I have. Its also my lowest limit of only $500. Will it hurt my score if I close it?

[msbia]

Hey, if it no longer works for you and you don't need it close it. You can wait a few months and probably apply for unsecured and get a much higher limit. Good luck! 

[ojefferyo]

If it no longer serves a purpose then close it out. No point in having money sitting there. 

[Anonymous]

What happens when you click the love button?

[Anonymous]

Do you have any baddies on your reports? If so, how much longer until they come off?

If you don't have any baddies, have you tried using the card heavy for a few months? Or leaving a small balance for a month or 2?

It won't really hurt your score if you close it, but it is a decent card for the rotating categories and Discover Deals, so it might be worth hanging onto it a little longer.

Mine just graduated a few days ago, but when I first got it I had a few baddies on my reports. Those fell off last year so I didn't have any when they graduated me. (On a side note, my BOA 99/500 secured card still hasn't graduated and I'm going on month 13th now - so I know how you feel).

[Anonymous]

I closed my Discover card back in Jan after having it for 18 months. It was also one of my first cards I started my rebuild with but they would not unsecure it even after 18 months of heavy usage and perfect payment history. I had a hard time closing it but decided that I could better use the deposit then keeping it held up for a card that looked to be going no place. I now have over 60k in credit open so I don't regreat closing it one bit.

[Jon85]

---

@Anonymous wrote:

Had it for 18 months going on 19 now. Perfect history with the card. Dont carry balances,never late,pay in full,barely use it now. Customer service gives me the same scripted response everytime I inquire about being unsecured. I even reached out to their EO and after a few days they called me back and gave me the exact same response as customer service. Im only on the fence because It was my first card I got to start my rebuild. So I guess it holds sentimental value lol. I honestly dont really need it now with my other cards I have. Its also my lowest limit of only $500. Will it hurt my score if I close it?

---

I had this same secured card for 14 months and it never graduated, no matter how many times I called in and asked. I was in rebuilding, but I had come really far at that point than when I started with the secured card. My limit was only $300 and always PIF.

So after the last attempt in them telling me it can't graduate and that'll they review it every so often, I decided to close the card and then two days later apped for the normal version and got instant approval for 3K.