topic Re: I have a Cap One Secured Card I'm Not Using. Close it ? in Credit Cards

I have a Cap One Secured Card I'm Not Using. Close it ?

ScoreOrBeScored — Wed, 14 Jan 2015 18:12:41 GMT

Hi, I have Cap One Secured card that was opened March 2013 with a $49 deposit for a $200 CL.

I Put $200 deposit on card and was given $100 Auto increase. So That's $249 I have tied up with this card.

The last time I used the card was for dinner in August 2014 and it's been at $0 ever since. I have no use for it

as I currently have $40k CL total spreaded out over ithers cards.

the annual fee is coming due in March 2015. When is best time to close it ? Close it before I get all the green "OK" boxes filled on reports ?

Re: I have a Cap One Secured Card I'm Not Using. Close it ?

TRC_WA — Wed, 14 Jan 2015 18:15:09 GMT

Best time to close it was yesterday.

Re: I have a Cap One Secured Card I'm Not Using. Close it ?

kdm31091 — Wed, 14 Jan 2015 18:15:29 GMT

You should definitely close it and move on. You state you have no use for it. And clearly you wouldn't have a use for it if you have $40k in credit elsewhere.

Anyway, it's at 0 and has been for months, so you can close it at any point. It's going to report as green for each statement you paid/the zero months.

Re: I have a Cap One Secured Card I'm Not Using. Close it ?

coldnmn — Wed, 14 Jan 2015 18:15:54 GMT

Now in my opinion. It will report as a positive trade line for ten years even closed. It served it's purpose.

Re: I have a Cap One Secured Card I'm Not Using. Close it ?

ScoreOrBeScored — Wed, 14 Jan 2015 18:20:37 GMT

Lol @ yesterday..I will do it today for sure. It's gonna feel good just like it did when I closed credit One in July 2014. Last time credit one reported after closing

was Oct. 2014. Oh well..thank YALL for the responses.

Re: I have a Cap One Secured Card I'm Not Using. Close it ?

Anonymous — Wed, 14 Jan 2015 19:19:56 GMT

@TRC_WA wrote:
Best time to close it was yesterday.

Re: I have a Cap One Secured Card I'm Not Using. Close it ?

ScoreOrBeScored — Wed, 14 Jan 2015 19:53:17 GMT

Okay YALL, I just called and closed my account.

{{{Feels Good}}}

Re: I have a Cap One Secured Card I'm Not Using. Close it ?

-Wade- — Wed, 14 Jan 2015 21:38:32 GMT

@ScoreOrBeScored wrote:
Okay YALL, I just called and closed my account.

{{{Feels Good}}}

That was a great move Congrats

Re: I have a Cap One Secured Card I'm Not Using. Close it ?

ScoreOrBeScored — Wed, 14 Jan 2015 22:04:43 GMT

Thank you Wade

Re: I have a Cap One Secured Card I'm Not Using. Close it ?

Anonymous — Wed, 14 Jan 2015 23:45:11 GMT

@-Wade- wrote:
@ScoreOrBeScored wrote:
Okay YALL, I just called and closed my account.

{{{Feels Good}}}
That was a great move Congrats

Good feeling to close unused cards!

Re: I have a Cap One Secured Card I'm Not Using. Close it ?

happypill — Fri, 16 Jan 2015 19:30:28 GMT

Awesome. I'm going to be going the same to my Cap1 secured card and it's going to feel great.