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Regular Contributor
kpresod
Posts: 137
Registered: ‎01-08-2012

Should I ?

Hi All,

 

I would like to close my not being used credit one account $400 I opened in April 2012. It has been 7 months now since I've had this, and it has never been used; I basically ignored it. Should I wait it out? or can I close? 

Senior Contributor
youngandcreditwrthy
Posts: 5,973
Registered: ‎08-16-2012

Re: Should I ?

If it has fees and you can replace it.... Close it!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | CSP $10k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k | Express $3.05K | Myponts.com Visa $3.5k | Freedom Visa $1k| Amex Surpass $1k
Regular Contributor
kpresod
Posts: 137
Registered: ‎01-08-2012

Re: Should I ?

Just called up and was told that because I opened this account in april it won't accrue any fees until the account has officially make a year! But I hate seeing this account anyways...especially since cap1, walmart, boa, and paypal sc have been showing me much love!

Established Contributor
KIPPIE12
Posts: 619
Registered: ‎05-09-2009

Re: Should I ?

Close it if its loaded with monthly fees, and AF's.  It's also a daily interest accruing account, so i don't think it gives a grace period for purchases either. My nephew got this card when he started building last year, and we closed it and opened a credit union visa for him.  I would definitely close it if you don't need it.  It won't affect your AAoA if you close it, because it will continue to report for 10 years from the time it's closed.

Current Score: EQ: 781 TU: 798 EX: 802 (Fico) 8/13
Goal Scores: 760 Across all 3-Finally


Citi TY Premier 36k| Discover 15.6k|BOA WMC 30.5k|Barclays Juniper Rewards 15k|Barclays Amex 20k| CapOne 15K|Chase Freedom VS 19.3k|Citi Dividend WMC 25k|FNBO 15.5k|CSP 22.1K|Chase Marriott 26k|Citi TYP 20K|Citi DP 16.5k|Sams Discover 10k|Chase IHG Select Visa 21k|Macys 5k

Senior Contributor
youngandcreditwrthy
Posts: 5,973
Registered: ‎08-16-2012

Re: Should I ?

Yep! No brainer... Close 'er down esp since you have those other cards!
Marriott PR$25k | BCE $24.5K |BankAmericard Visa $25k| Wmt Discover $12.5k | BR Visa $12.5k | CSP $10k | Amex Delta Gold $10k | Discover IT $10k | Paypal Extras MC $15k | Amazon Store $10k|Arrival $12.7k | Smile Gen $7.25k | Dillard's $5k | Express $3.05K | Myponts.com Visa $3.5k | Freedom Visa $1k| Amex Surpass $1k
Regular Contributor
kpresod
Posts: 137
Registered: ‎01-08-2012

Re: Should I ?

Thanks! and will do in the AM....I thank you all for the advice given :smileyhappy:

Valued Contributor
nicholasyud
Posts: 1,734
Registered: ‎08-13-2012

Re: Should I ?

i had the same problem with my credit one card with 400 limit and come with fees fees every month....want to closed it out but i guess i might just gonna closed it by the 11th months statement since i already paid them $75 annual fees.....dont know why should i apply for this piece of crap because i heard someone told me with 3 credit line for better score.....hmmmmmm...........i guess its stuck with me for another 10 years after i closed....;-(


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 9k| Amex: NSPL|Dis: 3.4k|Cap: 3.5k|CAP: 2k|CSP: 5k| Pen:4.5k


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