topic Re: What to do with my Creditonebank card? in Credit Cards

What to do with my Creditonebank card?

Anonymous — Thu, 27 Aug 2015 00:46:12 GMT

I have 3 cards a freedom that has a 5K limit and is 4months old, a QS1 that is exactly one year old and just got bumped to 3K and a creditone bank card that is my longest CC with a 1200 limit that ive had for 2.5yrs. I also have a car loan thru toyota that is 1.5yrs old. Creditone was at 1K they now gave me free CLI which i find funny i called 3months ago and was going to cancel unless they removed my fee which they did but only for 3months. I basically dont use this card my sunpass is connected to it and charges 25 a month on it and thats it. MY AAOA is 7yrs mostly because im an authorized user on my moms BOA card thats 20+yrs old.. I feel if i cancel Credit one it will hurt me as its my longest aged card in my name. I guess i dont mind calling every 3months and getting the Fee removed but its just a pain in the butt ya know. I dont plan on getting any new cards in the next year so what to do? Thoughts?

Re: What to do with my Creditonebank card?

Anonymous — Thu, 27 Aug 2015 00:47:39 GMT

Do you have an acetylene torch handy?

Re: What to do with my Creditonebank card?

Anonymous — Thu, 27 Aug 2015 00:48:56 GMT

Target practice. Nothing smaller than a .45

Re: What to do with my Creditonebank card?

tdj — Thu, 27 Aug 2015 00:50:02 GMT

Re: What to do with my Creditonebank card?

Anonymous — Thu, 27 Aug 2015 00:51:32 GMT

.45? That's for children. .500 S&W 😏

Re: What to do with my Creditonebank card?

SunriseEarth — Thu, 27 Aug 2015 00:55:33 GMT

@Anonymous wrote:
I have 3 cards a freedom that has a 5K limit and is 4months old, a QS1 that is exactly one year old and just got bumped to 3K and a creditone bank card that is my longest CC with a 1200 limit that ive had for 2.5yrs. I also have a car loan thru toyota that is 1.5yrs old. Creditone was at 1K they now gave me free CLI which i find funny i called 3months ago and was going to cancel unless they removed my fee which they did but only for 3months. I basically dont use this card my sunpass is connected to it and charges 25 a month on it and thats it. MY AAOA is 7yrs mostly because im an authorized user on my moms BOA card thats 20+yrs old.. I feel if i cancel Credit one it will hurt me as its my longest aged card in my name. I guess i dont mind calling every 3months and getting the Fee removed but its just a pain in the butt ya know. I dont plan on getting any new cards in the next year so what to do? Thoughts?

Closed accounts in good standing remain on your CRs for ~10 years and factor into you AAoA for as long as they remain on your reports. Unless UTIL is a concern, I see no reason to keep it open

Re: What to do with my Creditonebank card?

Anonymous — Thu, 27 Aug 2015 00:56:33 GMT

Ok, now that I got the jokes out of my system, CLOSE IT. You needed it to rebuild, and you rebuilt. Close it. It will stay on your report for 10 years, by then the extra year won't really matter as long as you keep the rest of your profile in good standing.

It's a subprime card from a subprime lender. It'll hurt you more than it helps at this point.

Re: What to do with my Creditonebank card?

Anonymous — Thu, 27 Aug 2015 00:57:44 GMT

Then after you close it, strap a crapton of cherry bombs to it and throw it in a portapotty!

Re: What to do with my Creditonebank card?

Anonymous — Thu, 27 Aug 2015 01:03:23 GMT

KILL IT WITH FIRE

Re: What to do with my Creditonebank card?

Anonymous — Thu, 27 Aug 2015 01:06:15 GMT

Melt it down with a weed burner, mince the char ball with a hatchet, grind it through a pepper mill, mix it up in some paint and paint yourself a pretty little sign that says "Been there, done that!"

Re: What to do with my Creditonebank card?

Anonymous — Thu, 27 Aug 2015 01:07:51 GMT

Thanks for the advice guys i will close it this week i just didnt know if it being my longest tenured card in my name would affect things in the future.

Re: What to do with my Creditonebank card?

Anonymous — Thu, 27 Aug 2015 01:13:30 GMT

You're doing great! Use what you paid in fees to Credit One towards something nice for yourself.

Re: What to do with my Creditonebank card?

Anonymous — Thu, 27 Aug 2015 01:39:26 GMT

@Anonymous wrote:
Thanks for the advice guys i will close it this week i just didnt know if it being my longest tenured card in my name would affect things in the future.

I also recommend fire. There is a big thread on what happens when you close a card. The main point is that the card will remain on your report for 10 years, so you should feel comfortable closing it.

Re: What to do with my Creditonebank card?

MarvelGTR — Thu, 27 Aug 2015 01:47:59 GMT

Cancel the card and stop paying the fee even if they are waiving it for three months. I canceled mine last week and it was one of my best credit decisions I have ever made!

Re: What to do with my Creditonebank card?

Anonymous — Thu, 27 Aug 2015 01:58:06 GMT

Good luck cancelling this card. I called them and cancelled the card two weeks ago. They refunded the extra money in my card but till today the account is not closed. I'm thinking of calling them up to understand when the closure will happen.

They'll lure you with 6 months AF waiver, 3 months waiver, so on so forth...don't fall prey to those gimmicks and just CLOSE it !

Re: What to do with my Creditonebank card?

Anonymous — Thu, 27 Aug 2015 02:50:57 GMT

Well my balance is zero i dont owe them and they dont owe me so i hope it goes smoothly

Re: What to do with my Creditonebank card?

Anonymous — Thu, 27 Aug 2015 02:54:36 GMT

@Anonymous wrote:
Well my balance is zero i dont owe them and they dont owe me so i hope it goes smoothly

Hang on to the card until you confirm it's closed. Then...see if it blends.

Re: What to do with my Creditonebank card?

Anonymous — Thu, 27 Aug 2015 03:13:50 GMT

@Anonymous wrote:
Well my balance is zero i dont owe them and they dont owe me so i hope it goes smoothly

Be careful with previous fees and Annual fees. Usually they take some time before posting fees, if any. The trick is to close the card before a month or two before the annual fee hit.

Re: What to do with my Creditonebank card?

CH-7-Mission-Accomplished — Thu, 27 Aug 2015 03:33:28 GMT

I would kick Credit One to the curb, but you do need three revolving accounts for FICO scoring. I would apply for the Capital 1 Venture card. Depending on your income, you will likely get 5K to 20K credit limit.

It is better to add a fourth card and then cut loose the one you want to ditch as your scores will drop when you go down below three cards. So get a new "third card" and then kick the old third card to the street.

Re: What to do with my Creditonebank card?

Anonymous — Thu, 27 Aug 2015 05:20:23 GMT

@Anonymous wrote:
@Anonymous wrote:
Well my balance is zero i dont owe them and they dont owe me so i hope it goes smoothly
Hang on to the card until you confirm it's closed. Then...see if it blends.

Loved the Blend! .

I live near a very large river, maybe a 'will it sink'.