topic Re: Cancel Credit One, Experian goes up 18 points in Credit Cards

Cancel Credit One, Experian goes up 18 points

Anonymous — Sun, 15 Feb 2015 15:03:49 GMT

Guess that's my reward for not having to deal with them anymore.

Re: Cancel Credit One, Experian goes up 18 points

Anonymous — Sun, 15 Feb 2015 15:05:02 GMT

Now that's a reward I can sink my teeth into.

Re: Cancel Credit One, Experian goes up 18 points

Anonymous — Sun, 15 Feb 2015 15:13:58 GMT

Two good things with one action, i'd say its a win win!

Re: Cancel Credit One, Experian goes up 18 points

Anonymous — Sun, 15 Feb 2015 15:18:18 GMT

is there a reason for the increase?

i am tempting to cancel the scured cap 1 card i have.

Re: Cancel Credit One, Experian goes up 18 points

anm688 — Sun, 15 Feb 2015 15:43:11 GMT

delite. I read this as Cap1. Haha

Re: Cancel Credit One, Experian goes up 18 points

EW800 — Sun, 15 Feb 2015 16:07:14 GMT

Congrats on the increasea and for getting rid of Credit One!

Re: Cancel Credit One, Experian goes up 18 points

Anonymous — Sun, 15 Feb 2015 16:10:13 GMT

FICO should give extra pts for not having FP, CreditOne or Continental Finance on your reports.

Re: Cancel Credit One, Experian goes up 18 points

Anonymous — Sun, 15 Feb 2015 16:30:33 GMT

Proof that sometimes the FICO gods are good and just.

Re: Cancel Credit One, Experian goes up 18 points

Imperfectfuture — Sun, 15 Feb 2015 16:33:05 GMT

@Anonymous wrote:
Now that's a reward I can sink my teeth into.

When their old charge off dropped, my EQ went up 68 points. That's one blacklist I'm proud to be a member of.

Re: Cancel Credit One, Experian goes up 18 points

Imperfectfuture — Sun, 15 Feb 2015 16:36:04 GMT

@Anonymous wrote:
is there a reason for the increase?

i am tempting to cancel the scured cap 1 card i have.

I had a secured card with my credit union for 1.5+ years (it's unsecured now). Don't do it, secured cards from good banks keep the score up. If you are still rebuilding (looking to increase score above 700), this is not the way to go. Only if you have three or more prime bank cards, with a year of history, then cancel.

Re: Cancel Credit One, Experian goes up 18 points

Anonymous — Sun, 15 Feb 2015 16:36:11 GMT

@Imperfectfuture wrote:
@Anonymous wrote:
Now that's a reward I can sink my teeth into.
When their old charge off dropped, my EQ went up 68 points. That's one blacklist I'm proud to be a member of.

WOW! If I am reading your signature line scores right ... you have improved huge!

Re: Cancel Credit One, Experian goes up 18 points

Anomalous — Sun, 15 Feb 2015 16:40:37 GMT

@Anonymous wrote:
Guess that's my reward for not having to deal with them anymore.

Ha! The best reward, ever!

Re: Cancel Credit One, Experian goes up 18 points

Imperfectfuture — Sun, 15 Feb 2015 16:46:42 GMT

@ArmyVietVet wrote:
@Imperfectfuture wrote:
@Anonymous wrote:
Now that's a reward I can sink my teeth into.
When their old charge off dropped, my EQ went up 68 points. That's one blacklist I'm proud to be a member of.
WOW! If I am reading your signature line scores right ... you have improved huge!

You are reading them right.

Hard work went into some collections where the agency didn't want to conform with the FCRA nor the FDCPA. But I actually did all my work over the phone (except my last three disputes on TU). Since they wouldn't budge on paying debts one at a time, I had some serious backtracking to do with proving I didn't owe the debts. The rest I saved, and PFD. Some were illegal per the state laws, so just ignored those.

It paid off, as you see.

Re: Cancel Credit One, Experian goes up 18 points

Anonymous — Sun, 15 Feb 2015 16:57:34 GMT

I wonder if I can get a similar result by cancelling my QS1?

(Nixon will probably say yes)

Re: Cancel Credit One, Experian goes up 18 points

Anonymous — Sun, 15 Feb 2015 17:01:14 GMT

Yes.

Re: Cancel Credit One, Experian goes up 18 points

Anonymous — Sun, 15 Feb 2015 17:08:10 GMT

Yes

Re: Cancel Credit One, Experian goes up 18 points

Imperfectfuture — Sun, 15 Feb 2015 17:10:56 GMT

No (contrarian, but realistic ).

Re: Cancel Credit One, Experian goes up 18 points

Anonymous — Sun, 15 Feb 2015 17:16:31 GMT

My reality was I canceled a $300 QS and scores increased 15-20 points Sure, other factors may have come into play (although nothing else changed at that time) but I like to think of it as the FICO gods way of saying - Congratulations for having enough courage to get rid of a crappy limit, go forth and prosper! Which I have

Re: Cancel Credit One, Experian goes up 18 points

Imperfectfuture — Sun, 15 Feb 2015 17:28:31 GMT

@Anonymous wrote:
My reality was I canceled a $300 QS and scores increased 15-20 points Sure, other factors may have come into play (although nothing else changed at that time) but I like to think of it as the FICO gods way of saying - Congratulations for having enough courage to get rid of a crappy limit, go forth and prosper! Which I have

FICO gods don't care about crappy limits . I got score boost when it was still 300. Got more score boost to buffer new accounts (my AAoA is now just a little over a year, was over 2 years when cap one showed up), when cli hit.

i understand it was hard work with that 300 limit. My scores upped quicker than yours, so I opted for the EO route (and over the phone). I loved and used my paypal Business Debit Card for 6 years, with grandfathered rate of 1.5% cash back. PayPal has since changed: conglomerate spending for month vs. Itemized individual amounts cash back, minimum 1.00 to reimburse or lose rewards, must use card in year or reapply (going after us grandfathered folks). Don't know if I would keep it, but the FICO gods don't care about capital one, in fact, for some strange reason, cap one inquiries cause raise in scores.

But, it's not your kinda card, like very few travel cards are my kind of card. You detest SW, my sister loves SW. You say potato, I say tomato ....wait, HHHMMM.

Re: Cancel Credit One, Experian goes up 18 points

elim — Sun, 15 Feb 2015 17:31:19 GMT

i have a consumer loan from 9 years ago on all 3. hope that gives me a few points when that one dies.