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I've seen that a lot of people on here have been able to get help with their personal credit situations, so I thought I'd get help with mine. Here are the cards I have:
Orchard Bank Secured MC - $200 limit - Opened 8/06 - Closed 6/08
Capital One MC - $500 opening limit, CLI to $750 & $1250 - Opened 12/06
Chase Freedom Visa - $2500 limit - Opened 4/07
Belk store card - $200 opening limit, CLI to $300 & $400 - Opened 11/07
Hilton AmEx - $2500 limit - Opened 6/09
My question revolves around the Capital One card. I haven't used it for anything since June 2008, so I'm surprised they haven't closed it yet. I'm thinking part of the reason may be that I check the account online a couple of times a month to make sure there's no charge on it. Should I charge something on it every once in a while, or let it lapse? I should be able to use the Visa and AmEx for anything I need while keeping an eye on some other cards I want to get in the future. Any help would be appreciated.
@Anonymous wrote:I've seen that a lot of people on here have been able to get help with their personal credit situations, so I thought I'd get help with mine. Here are the cards I have:
Orchard Bank Secured MC - $200 limit - Opened 8/06 - Closed 6/08
Capital One MC - $500 opening limit, CLI to $750 & $1250 - Opened 12/06
Chase Freedom Visa - $2500 limit - Opened 4/07
Belk store card - $200 opening limit, CLI to $300 & $400 - Opened 11/07
Hilton AmEx - $2500 limit - Opened 6/09
My question revolves around the Capital One card. I haven't used it for anything since June 2008, so I'm surprised they haven't closed it yet. I'm thinking part of the reason may be that I check the account online a couple of times a month to make sure there's no charge on it. Should I charge something on it every once in a while, or let it lapse? I should be able to use the Visa and AmEx for anything I need while keeping an eye on some other cards I want to get in the future. Any help would be appreciated.
Hi Scooter,
If it was me, I would keep the card open and reporting. It has 4 years of history helping your AAoA and the CL is helping your util. Do you have a small recuring payment that you could set up for auto-pay to this card monthly and then pay it off when the charge hits? I keep one of mine alive and kicking that way (CCT monthly fee). It keeps the card reporting and does not cost a penny since you pay the monthly payment any way.
Just MHO. Others may have a different angle.
CB
@Anonymous wrote:
@Anonymous wrote:I've seen that a lot of people on here have been able to get help with their personal credit situations, so I thought I'd get help with mine. Here are the cards I have:
Orchard Bank Secured MC - $200 limit - Opened 8/06 - Closed 6/08
Capital One MC - $500 opening limit, CLI to $750 & $1250 - Opened 12/06
Chase Freedom Visa - $2500 limit - Opened 4/07
Belk store card - $200 opening limit, CLI to $300 & $400 - Opened 11/07
Hilton AmEx - $2500 limit - Opened 6/09
My question revolves around the Capital One card. I haven't used it for anything since June 2008, so I'm surprised they haven't closed it yet. I'm thinking part of the reason may be that I check the account online a couple of times a month to make sure there's no charge on it. Should I charge something on it every once in a while, or let it lapse? I should be able to use the Visa and AmEx for anything I need while keeping an eye on some other cards I want to get in the future. Any help would be appreciated.
Hi Scooter,
If it was me, I would keep the card open and reporting. It has 4 years of history helping your AAoA and the CL is helping your util. Do you have a small recuring payment that you could set up for auto-pay to this card monthly and then pay it off when the charge hits? I keep one of mine alive and kicking that way (CCT monthly fee). It keeps the card reporting and does not cost a penny since you pay the monthly payment any way.
Just MHO. Others may have a different angle.
CB
+1