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Established Contributor
jcstarkey8826
Posts: 704
Registered: ‎06-01-2012
0

should I close my secured card?

I got this PNC secured card in June. Its been a decent card, but Ive been thinking about closing it lately and saving the AF. I use my chase freedom for everything and dont have a use for the secured card. Will it look bad for closing the card after only 4-5 months. I didnt expect my credit to improve so fast and to be able to get other CCs so I had a purpose for the card, but now I am just trying to grow the cards I have.

 

I know it wont hurt my AAOA, and It isnt helping my util. so would this hurt me?

 

CO CC- opened 1/12

PNC- 6/12

Chase- 9/12

WM- 9/12

Kays- 8/12

In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Discover Card 6300 CL, Kay Jewelers 3000 CL
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012
0

Re: should I close my secured card?

It won't harm you to close it. If that is what you wish to do, it is perfectly okay FICO wise.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Established Contributor
YahComb
Posts: 595
Registered: ‎03-10-2012
0

Re: should I close my secured card?

might as well hang onto it until the next AF comes around and then close it.

EQ-736(08/14) TU-758(06/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 7.5K | Disc It 9K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yr AAOA: 25.8 mo
Established Contributor
guydiver
Posts: 540
Registered: ‎08-30-2007
0

Re: should I close my secured card?

You're in that boat where it won't hurt you to close it.  Save the AF and take care of your good cards now. 

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Starting Score: 1/05 upper 500's??Current Score: FICO: EQ 730ish, TU ??, EX 740(CS) Goal Score: .....800 IS ON MY BUCKET LIST! EX ,BITE ME! .:smileyvery-happy:
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Established Contributor
jcstarkey8826
Posts: 704
Registered: ‎06-01-2012
0

Re: should I close my secured card?

its a monthly billed AF, otherwise id keep it. so its $3 per month. I will close it. Thanks guys, just didnt know if itd look bad to only have it for a few months

In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Discover Card 6300 CL, Kay Jewelers 3000 CL
Established Contributor
YahComb
Posts: 595
Registered: ‎03-10-2012
0

Re: should I close my secured card?

monthly? well then close that thing yesterday lol

EQ-736(08/14) TU-758(06/14)
Newest to Oldest
Barc Sallie Mae 6K | Citi TY Pref 4.5K | US Bank Cash+ 10K | Chase Freedom 7.5K | Disc It 9K | Amazon Store 2.5K | BOA Cash Rewards 10.5K |

Closed Cards: 4 Oldest: 3yr AAOA: 25.8 mo
Regular Contributor
dude11
Posts: 237
Registered: ‎06-07-2011
0

Re: should I close my secured card?

Close that sucker! No need to pay a monthly fee. If it were annually like most cards then I'd say keep it till it hit 1 year. If you got decent cards now or a better card then close that piece of plastic!

Established Contributor
jcstarkey8826
Posts: 704
Registered: ‎06-01-2012
0

Re: should I close my secured card?

CHOPPED!!!!

In my wallet: GCU Patinum Visa 1500 CL, Charter One Platinum Rewards 500 CL, Chase Freedom 800 CL, Wal Mart Discover Card 6300 CL, Kay Jewelers 3000 CL
Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012
0

Re: should I close my secured card?

lol


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