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@Dreamwalker wrote:
So, I cancelled my Capital One Secured card at the end of February and it still reports as open to all the credit bureaus. Is this a typical thing? My card is cut up, my deposit has been returned, so I'm not really worried about charges. How does this affect how other creditors look at me? I understand that tradelines stay on for 10 years.
If it's at zero balance and it's garnering pretty little OK's in payment history, it's nothing but goodness .
As long as the account is closed, and you're not going to get dinged with an unexpected AF at some point, I'd simply sit quietly and take however long they would allow this oversight to run as an extra bonus. Thank you sir, may I have another?
As long as no one thinks it odd that I have a $351 credit limit, why not?
@Dreamwalker wrote:As long as no one thinks it odd that I have a $351 credit limit, why not?
Even when it reports closed the $351 limit will show.
@Dreamwalker wrote:
So, I cancelled my Capital One Secured card at the end of February and it still reports as open to all the credit bureaus. Is this a typical thing? My card is cut up, my deposit has been returned, so I'm not really worried about charges. How does this affect how other creditors look at me? I understand that tradelines stay on for 10 years.
same here...I closed my Best Buy Rewards Zone MC (300 limit). back in November of last year and it wasnt until this month that it finally reported as "closed". Was about to call them again so it may be typical of Cap One to do this.
I closed my secured Cap One about 2 weeks ago and it's already showing as closed.
@Paperboy999 wrote:
How long did it take you to get your deposit back? I just closed mine last week and I was curious.
When I called to cancel I was told that I had to wait for any additional charges to come through (about 7 days), and at that point could either wait 30 days for them to mail it, or call them again after the account was closed and have them 'rush it' in which case it would be to me in 7-14 days.
From start to finish, it took about two weeks.
@Countingpennies wrote:
I closed a Cap1 somewhere around 1998. It's been showing as open/current ever since. Somewhere in the fine print notes it states inactive. I've been doing some post-BK CR cleanup, and in the process it finally dropped off TU and EQ, but not EX. My oldest account on TU and EQ is 3 mos., on EX it's 19 yrs. Doesn't appear to be helping my scores any, EX is about 50 points lower than the other two.
A bit off-topic, but I thought it might be interesting.
It's near impossible to get a EX FICO now without a lender pull. Depending where you got your score from, may not mean much; however, Inactive tradelines tend not to get counted so you're likely correct in stating it's not helping.
The neat trick would be if you could get it active somehow, now that would be credit recovery with style!