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Should i close my Creditonebank card?

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Anonymous
Not applicable

Re: Should i close my Creditonebank card?

My score was actually low 600's (around 620-630 or so at the time) but I ran it past the Chase Prequalifier which is pretty reliable and it said I was qualified for a Chase Freedom card.  Went ahead and applied and it gave me my biggest CLI to date.  I didn't think I could get into a prime card so early in my rebuilding, now I just have to pay the thing down. Smiley Very Happy

Message 11 of 20
Anonymous
Not applicable

Re: Should i close my Creditonebank card?

Ya i run the prequalifieds for amex, chase, disc every other week nothing yet,  I think id have a shot at the barclays rewards mastercard but they dont even have a prequalify on their site anymore and i dont wanna burn any hard pulls

Message 12 of 20
montana586
Regular Contributor

Re: Should i close my Creditonebank card?

If you have charge off's falling off in march why not just wait it out? That should raise your score significantly and definitely put you in a position to pick up a couple nice cards all at once???

Starting Score: 675EQ 698 TU
Current Score: 698TU 675EQ
Goal Score: 720+


Take the myFICO Fitness Challenge


EQ fico 675
Trans Fico 698
EX662
Message 13 of 20
Anonymous
Not applicable

Re: Should i close my Creditonebank card?

WEll i had alot of them like 9 total a few fell off in DEC honeslty the only thing it did was lower my missed payments from like 44 total to 36 and really didnt do anything to my fico score

Message 14 of 20
montana586
Regular Contributor

Re: Should i close my Creditonebank card?

Trust me the cleaner your report gets with more on time payments made it will raise it just takes time. But I understand what your saying

Starting Score: 675EQ 698 TU
Current Score: 698TU 675EQ
Goal Score: 720+


Take the myFICO Fitness Challenge


EQ fico 675
Trans Fico 698
EX662
Message 15 of 20
Anonymous
Not applicable

Re: Should i close my Creditonebank card?

oh i agree100% i havent had a late payment on anything in years, it just seems to me chargeoff falling off dont give the huge boost they used to in the past

Message 16 of 20
juggalo9er
Valued Contributor

Re: Should i close my Creditonebank card?

under any circumstances yes!

the fees you pay them could be used to open a secured card with rewards

Message 17 of 20
Anonymous
Not applicable

Re: Should i close my Creditonebank card?

+1
Message 18 of 20
Anonymous
Not applicable

Re: Should i close my Creditonebank card?

GIven your QS1, I would close the CreditOne card to avoid any further fees. Once to chargeoffs drop off your report in a month or two, you'll be in much better shape to app for a couple new unsecured cards. I'd be shocked if you can't get at least $500 each from 2-3 newer cards that don't have annual fees. Plus, you might actually use them, which you aren't doing with your CreditOne.

 

One of the good places to start is usually your bank/credit union. Because you have a relationship with them, they might be more inclinced to extend you a card with a decent limit.

Message 19 of 20
Anonymous
Not applicable

Re: Should i close my Creditonebank card?

I onlybank with boa for my savings and checking i had a secured card with them but eventually cancelled because their requirements were gonna take way to long for me to get to with my fico scores
Message 20 of 20
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