Let me start off by first saying this site is awesome, Heaven sent-if you ask me. Very informative, and everyone seems to have the best goal in sight!
Long story short I started rebuilding in 2009, saw the mess/disaster of my file and took a "seven" year break. Somewhere in between the break I got an unsecured Cap1 06/2007 started $300 current $1300. Thought I could use an additional card so I app'ed for a secured Cap1 approved for $200 CL, and I deposited an additional $800 02/2011-$1000CL-no growth. Fast fwd to November of this year... I logged back on to this site and saw discussion about the "Shopping cart trick" gave it a go that very night ended up with VS$250, and HSN$750. I actually got the Overstock pop-up, and didn't go through with it...I thought two cards were enough. Got super excited about a 2nd chance in the credit world...really wanted a Walmart card (burnt them before as GE) so I was really nervous, pulled the trigger late one night...bam $500CL...I'll take it, just wanted to get in.
Finally-my question...should I keep the secured Cap1...spoke with a rep last week who PC'd my unsecured to a QS1 no CLI still $1300, and she said that my secured would never change. I have $800 tied up in it. My thoughts-should I close it, and get my $$$ back. If I'm missing any info just ask. I'm thinking Its done its job...
Long story short I started rebuilding in 2009, saw the mess/disaster of my file and took a "seven" year break. Somewhere in between the break I got an unsecured Cap1 06/2007 started $300 current $1300. Thought I could use an additional card so I app'ed for a secured Cap1 approved for $200 CL, and I deposited an additional $800 02/2011-$1000CL-no growth. Fast fwd to November of this year... I logged back on to this site and saw discussion about the "Shopping cart trick" gave it a go that very night ended up with VS$250, and HSN$750. I actually got the Overstock pop-up, and didn't go through with it...I thought two cards were enough. Got super excited about a 2nd chance in the credit world...really wanted a Walmart card (burnt them before as GE) so I was really nervous, pulled the trigger late one night...bam $500CL...I'll take it, just wanted to get in.
Finally-my question...should I keep the secured Cap1...spoke with a rep last week who PC'd my unsecured to a QS1 no CLI still $1300, and she said that my secured would never change. I have $800 tied up in it. My thoughts-should I close it, and get my $$$ back. If I'm missing any info just ask. I'm thinking Its done its job...
Starting Score: 570
I would try the Cap 1 preapproval site and see if they offer you a QS or Plat MC unsecured. Then you might determine to get your money back on the secured cards. You also have a decent reporting timeline on the secured card so I would take the rest of your account into consideration as well before I closed the secured.
NFCU Visa 30k | NFCU Platinum 30k | Cap1 QS 12K | Cap1 QS 11.5K | Barclay MC 9k | Delta Gold Amex 30K | Discover IT 14K | CFNA FS 3200 | CareCredit 20k| Paypal Credit 5k |
Hi, thanks for responding, I already have a Cap1QS $1300 cl...06/2007. That's why I thought I could close the unsecured.
@RS_991 thank you, I think I read your post late last night. I'm going to go for it...I will keep you posted!