No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I just paid off the small balance on it. It has a measly $300 CL. I got it in March and I definitely want to cut it up before the next annual fee, but I am planning on a car loan around November, so I don't know if it would hurt my score to get rid of it. It's not my oldest card. I have a Capital One Platinum (oldest card - started as a secured then they upped my CL) with a $500 CL, a Capital One Sony and Capital One Quicksilver with $1100 each, a Fingerhut with $250 CL and Amazon with $800 (I am using $720 of it though as I financed a computer with it). Would it hurt my score to close the Credit One? What if I keep it but don't carry any balance?
My scores are - EQ 621, TU 613, EX 615 so not so great. I am guessing Capital One will be my best bet for an auto loan since they seem to like me, but I'm looking at a new Hyundai Elantra and I heard their financing is easy.
@Anonymous wrote:I just paid off the small balance on it. It has a measly $300 CL. I got it in March and I definitely want to cut it up before the next annual fee, but I am planning on a car loan around November, so I don't know if it would hurt my score to get rid of it. It's not my oldest card. I have a Capital One Platinum (oldest card - started as a secured then they upped my CL) with a $500 CL, a Capital One Sony and Capital One Quicksilver with $1100 each, a Fingerhut with $250 CL and Amazon with $800 (I am using $720 of it though as I financed a computer with it). Would it hurt my score to close the Credit One? What if I keep it but don't carry any balance?
I suggest that you close it as soon as you can. They will probably slap you with hidden fees and junk if you continue to have it. You got some other cards that are helping out right now.
Ridding CreditOne of your active cards I dont think is ever a bad idea!
Wow everyone really hates Credit One lol. I never had any problems with them so far - besides the insanely high annual fee - but I always paid it off well in advance of the due date. I recently found out they charge a fee when you get a CLI though so I'm really not interested in hanging onto it. I just don't want to knock my score down any more when I'm trying to get a car soon.
When you close a Credit One card another angel gets his wings.
@Anonymous wrote:
Not only should you close it, you should burn the wallet you carried it in. 😊
That literally made me LOL.
OP, if you no longer need the CC, cancel. Alternately, you can call and let them know that you intend to cancel due to the AF and they may offer to temporarily waive the AF as a retention offer; there's been a lot of success with that. If you decided to close, the only affect on your credit would be to UTIL, and with a $300 CL, it sounds negligible.