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@Anonymous wrote:
hello thank u for reading thank u to all the knowledge i got from this forum u guys are great!!!! so yesterday i pulled the trigger for chase and amex and got approved for both😀 4.5k and 1k i still currently have a discover card that is secured should i cancel now that i dont need it and get my deposit back?? it was suppose to graduate in a year but 18 months later still didnt what should i do
Im trying to make this exact same decision. I've had my Discover card now 16 months. Never late,Always pay in full,never over limit. I dont even use it much unless its for a Discover deal or like now for gas. Since opening my discover I have got plenty of other great cards. Im thinkin about closing it but I was told that customers of 12 months or more can apply for another Discover it even if they already have one. I was thinking about just applying for a new unsecured Discover it and then closing my current one(well if im even approved). My BF's card was unsecured at 12 months with a 630 fico,a balance,collections,default student loan and charge off's. So IDK. Maybe you should apply for a new Discover it and then if approved closed the secured. I mean I still think Discover it a great bank.
@Anonymous wrote:
i agree with you discover is great and i would hate to lose them but i was thinking about applying for a discover it also but im not so sure because i just opened 2 cards and i like taking advantage of the 0% apr for 15 months maybe ill try next yearwhen the apr kicks in for these... i want to close it i just dont want it effecting my credit score being it is my oldest card
Its actually my oldest card also. From what I've read it wont really affect your AAOA if you have other cards. Even after closing it. It will stay on your credit for 10 years. Im pretty sure in 10 years it wont matter lol. I feel you on waiting....but Discover may not still have the Double cash back if you wait to long(If thats even a big deal to you). I personally wouldnt close it until I know that I got another Discover card.
It's always up to the individual to determine whether or not to close. The objective considerations with regard to scoring are mostly covered in the Closing Credit Cards thread linked in the Helpful Threads sticky. Read that and factor that into your decision. There are also a lot of subjective considerations and we can't tell you because you need to make those decisions based on your specific needs/wants/priorities/preferences/etc.
You'll get responses such as "keep everything open" or "keep open if no AF" but that sort of thing is up to you.
General advice is at least 2-3 cards for scoring purposes. If you have that many after closing a secured card then you're good on that point.
@Anonymous wrote:
it was suppose to graduate in a year but 18 months later still didnt what should i do
Contact them and see if they'll unsecure it.
Don't overlook prior threads as a resrouceas well. "Should I close...?" is an extremely common question.
@Anonymous wrote:
i just dont want it effecting my credit score
It won't effect your scores but it may affect your scores.
hmm Im down. You going to apply today?
Did they say why? I wonder if it had something to do with the secured card still being secured....hmmm
@Anonymous wrote:
yeah i got denied lol 😇but its all good
Well they denied me also. Im over it I dont even want my secured Discover it anymore now lol.