Re: First time closing an account!

Anonymous · ‎01-31-2016

So I manned up today and closed my Cap One secured account. I opened this account about 4 years ago and had the credit limit up to $2001. Considering it doesn't graduate, stops me from getting another Cap One account(already have QS) and does nothing whatsoever for me at this point I kicked it to the curb! Also, since I just

got approved for a DCU Visa with a $2000 credit line there will be no change in my available credit. I would call this a win! Now, I will wait 30 days or so for everything to settle and see if I can get another QS with a higher credit limit now that a spot has been opened up. Thoughts???

Anonymous · ‎01-31-2016

I just did the same thing myself with my cap1 secured. It did drop each of my fico8's about 5-10 points initially which was upsetting. It's been about 3 or so weeks since I have closed it, the refund check came within a week and I check the cap1 preqaul and nothing yet. I also have the QS @ $2000.00 currently. I dont think im any worse off without the card. We'll see in another couple weeks if cap1 gives me anymore love. Good luck!

Anonymous · ‎01-31-2016

@Anonymous wrote:
So I manned up today and closed my Cap One secured account. I opened this account about 4 years ago and had the credit limit up to $2001. Considering it doesn't graduate, stops me from getting another Cap One account(already have QS) and does nothing whatsoever for me at this point I kicked it to the curb! Also, since I just
got approved for a DCU Visa with a $2000 credit line there will be no change in my available credit. I would call this a win! Now, I will wait 30 days or so for everything to settle and see if I can get another QS with a higher credit limit now that a spot has been opened up. Thoughts???

No need to wait more than a day or two, for the closure to cycle through their system.