Should I close Credit One or keep it??

[Anonymous]

I have been on the fence about credit one bank, have even posted about possibly closing the the credit one bank card I had after I received my secured Discover card. So, I received the discover card and I FINALLY PAID OFF my credit one bank, these are the cards I have now Credit One Bank: $500 limit $0 balance Capital One Quicksilver One: $600 limit $100 balance Capital One Quicksilver: $600 limit $0 balance Capital One Secured: $500 line $0 balance Fingerhut: $300 limit $150 balance Victoria Secret: $250 limit $150 balance Discover Secured card: $200 limit $50 balance Kohls: $300 limit $200 balance The cards with a balance will be paid off this Friday so that my utilization can go down and in June when my credit steps kick in I will be combining my two quicksilver cards (trying to have less cards) but because I am rebuilding should I keep credit one open and just cut the card up or should I just close the card. They are the worst company to deal with. I will take any advice, thank you.

[Anonymous]

I would close ... don't they have an annual fee? I would think you have plenty available credit

Not an expert, but others are and will chime in  

[pipeguy]

Close it and never look back at those vultures !!

[Anonymous]

I'm new and b4 I applied for credit one I came to the forum to ask if I should apply since I have no credit and the advice given was to skip credit one and stick to my USAA secure card and discover secure card...so needless to say even though credit one is unsecured its not worth it and I don't think I would want to worry about closing it down the the line so its a no go 

[silkysean]

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@karladicent wrote:
I have been on the fence about credit one bank, have even posted about possibly closing the the credit one bank card I had after I received my secured Discover card. So, I received the discover card and I FINALLY PAID OFF my credit one bank, these are the cards I have now Credit One Bank: $500 limit $0 balance Capital One Quicksilver One: $600 limit $100 balance Capital One Quicksilver: $600 limit $0 balance Capital One Secured: $500 line $0 balance Fingerhut: $300 limit $150 balance Victoria Secret: $250 limit $150 balance Discover Secured card: $200 limit $50 balance Kohls: $300 limit $200 balance The cards with a balance will be paid off this Friday so that my utilization can go down and in June when my credit steps kick in I will be combining my two quicksilver cards (trying to have less cards) but because I am rebuilding should I keep credit one open and just cut the card up or should I just close the card. They are the worst company to deal with. I will take any advice, thank you.

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If you already paid Af for the year I would wait until right before its up agin about 1-2 months then cancel.You have some decent unsecured cards so credit one no longer needed it served its purpose so cancel it right before Af due again but if you are paying the $14.95 monthly account fee I would cancel ASAP 

[silkysean]

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@Anonymous wrote:

I'm new and b4 I applied for credit one I came to the forum to ask if I should apply since I have no credit and the advice given was to skip credit one and stick to my USAA secure card and discover secure card...so needless to say even though credit one is unsecured its not worth it and I don't think I would want to worry about closing it down the the line so its a no go 

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There is no impact in closing your credit one account if in good standing it stays for 10 years and is still figured in your average age f accounts.But if it's the only unsecured card I would only keep until Af is about to charge then cancel.Credit one only serves one purpose to rebuild and help you get better cards secured and unsecured 

[Anonymous]

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@pipeguy wrote:

Close it and never look back at those vultures !!

Indeed they ARE VULTURES; thank you will be closing

[Anonymous]

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@silkysean wrote:

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@karladicent wrote:
I have been on the fence about credit one bank, have even posted about possibly closing the the credit one bank card I had after I received my secured Discover card. So, I received the discover card and I FINALLY PAID OFF my credit one bank, these are the cards I have now Credit One Bank: $500 limit $0 balance Capital One Quicksilver One: $600 limit $100 balance Capital One Quicksilver: $600 limit $0 balance Capital One Secured: $500 line $0 balance Fingerhut: $300 limit $150 balance Victoria Secret: $250 limit $150 balance Discover Secured card: $200 limit $50 balance Kohls: $300 limit $200 balance The cards with a balance will be paid off this Friday so that my utilization can go down and in June when my credit steps kick in I will be combining my two quicksilver cards (trying to have less cards) but because I am rebuilding should I keep credit one open and just cut the card up or should I just close the card. They are the worst company to deal with. I will take any advice, thank you.

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If you already paid Af for the year I would wait until right before its up agin about 1-2 months then cancel.You have some decent unsecured cards so credit one no longer needed it served its purpose so cancel it right before Af due again but if you are paying the $14.95 monthly account fee I would cancel ASAP 

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I pay that good ole 14.95 a month; will defintely be closing asap; thank you so much 

[Anonymous]

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@silkysean wrote:

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@Anonymous wrote:

I'm new and b4 I applied for credit one I came to the forum to ask if I should apply since I have no credit and the advice given was to skip credit one and stick to my USAA secure card and discover secure card...so needless to say even though credit one is unsecured its not worth it and I don't think I would want to worry about closing it down the the line so its a no go 

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There is no impact in closing your credit one account if in good standing it stays for 10 years and is still figured in your average age f accounts.But if it's the only unsecured card I would only keep until Af is about to charge then cancel.Credit one only serves one purpose to rebuild and help you get better cards secured and unsecured 

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That is exactly what I wanted to know and should have been clear when asking, Average age of accounts, thank you so much for letting me know about this, I appreciate it...Thank you so much; will be closing 

[silkysean]

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@karladicent wrote:

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@silkysean wrote:

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@Anonymous wrote:

I'm new and b4 I applied for credit one I came to the forum to ask if I should apply since I have no credit and the advice given was to skip credit one and stick to my USAA secure card and discover secure card...so needless to say even though credit one is unsecured its not worth it and I don't think I would want to worry about closing it down the the line so its a no go 

---

There is no impact in closing your credit one account if in good standing it stays for 10 years and is still figured in your average age f accounts.But if it's the only unsecured card I would only keep until Af is about to charge then cancel.Credit one only serves one purpose to rebuild and help you get better cards secured and unsecured 

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That is exactly what I wanted to know and should have been clear when asking, Average age of accounts, thank you so much for letting me know about this, I appreciate it...Thank you so much; will be closing 

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No problem glad to hear and when you call they use scare tactics by saying you will hurt your score/ Average age of account don't believe that it's not true.Credit one,First premier,Sky etc..all the sub prime lenders who making money always try this but as others say close and don't look back only foward and congrats