topic Re: Close Credit One or take their better offer? in Credit Cards

Close Credit One or take their better offer?

Anonymous — Thu, 28 Jun 2018 15:08:04 GMT

Background: Just finished up a CH13 and it fell off my credit last month. I have a 2 year old Credit One account that I was using to rebuild. It's a $850 limit, $95 annual fee, and has no interest grace period. Now that my credit has bounced back, I just applied and received a new Capital One Quicksilver with a $15K SL. I also have a Kohls card and some of my bureaus are reporting an AMEX with $1K SL that I had before the bankruptcy that for some reason never closed, but I don't have access to the account.

Credit One has sent me a new offer for a $1500 limit and interest grace period.

I have no interest in using the Credit One card at all, so I'm wondering what move is best for my credit score/overall credit picture. Current scores are 719 TU, 757 EQ, 832 EX with 3 hard pulls on each.

1) Keep my current creditone card as is - no changes

2) Cancel Credit One and say good riddance to that company all together

3) Replace my current card with their better offer

Is there any way that my card can be replaced with the new offer without another hard pull? Worth it to call them and ask?

Any advice is appreciated!

Re: Close Credit One or take their better offer?

Jnbmom — Thu, 28 Jun 2018 15:15:55 GMT

Option 2, again option 2.

Re: Close Credit One or take their better offer?

SOGGIE — Thu, 28 Jun 2018 15:19:38 GMT

2) Cancel Credit One and say good riddance to that company all together

Re: Close Credit One or take their better offer?

K-in-Boston — Thu, 28 Jun 2018 15:23:57 GMT

With an 832 Experian score, I think it would probably be okay to just let the Credit One account go at this point.

It's best to have at least 3 open revolving account for scoring; the Amex reporting as open, the CapOne and the Kohl's card should do the trick. Are you blacklisted from Amex? It may make sense to grab a new card from them if not.

Re: Close Credit One or take their better offer?

Adkins — Thu, 28 Jun 2018 16:44:26 GMT

Option 2. The card had done what it needed to and it's time to move on from them.

Re: Close Credit One or take their better offer?

joltdude — Mon, 02 Jul 2018 00:32:52 GMT

The correct answer is Option 2.....

Everytime a Credit One user closes their account, a credit angel gets their wings.....

You don't need to play with them anymore... Your beyond them... the new card offer is not bad, but you can do MUCH better now....

Thanks but no thanks... it was fun, it was real, but it wasn't real fun.....

I'd wait for your new accounts to settle a bit and perhaps in 6 mo to a year.. Try for one more card...

Congrats on the score hike...

Re: Close Credit One or take their better offer?

pipeguy — Thu, 28 Jun 2018 17:48:05 GMT

Close it, don't even think about it....

Re: Close Credit One or take their better offer?

AverageJoesCredit — Thu, 28 Jun 2018 18:37:10 GMT

Re: Close Credit One or take their better offer?

AverageJoesCredit — Thu, 28 Jun 2018 18:37:31 GMT

Jk, #2

Re: Close Credit One or take their better offer?

NRB525 — Thu, 28 Jun 2018 19:25:25 GMT

Congrats on the improved score.
Did you already pay the AF? How long until that comes due again?
You should call to clarify if this can be a simple product change, although you have to be careful on the language.

If the AF is already paid, and several months to go until it is due again, maybe just keep it around until then for a bit more age.

Re: Close Credit One or take their better offer?

Anonymous — Thu, 28 Jun 2018 20:38:38 GMT

Thanks everyone, I think I have my answer!

Good riddance!

Re: Close Credit One or take their better offer?

Viva-LV — Thu, 28 Jun 2018 22:23:47 GMT

That's a no-brainer: that monthly ding for the AF sucked. You'll be seeing "come back" offers soon!

Re: Close Credit One or take their better offer?

tcbofade — Fri, 29 Jun 2018 01:25:23 GMT

Two.

Re: Close Credit One or take their better offer?

AverageJoesCredit — Fri, 29 Jun 2018 01:36:49 GMT

Hey Tcbo, soooooooo, 2 was it?

Re: Close Credit One or take their better offer?

arkane — Fri, 29 Jun 2018 03:01:56 GMT

#4) Mail their offer back to them along with your EX score and a note saying "raise the limit to 30K and we'll talk".

If that's too much work then you can just HALF ass it aka option #2.

Re: Close Credit One or take their better offer?

Anonymous — Fri, 29 Jun 2018 03:24:10 GMT

Option 2 no question! Close that bad boy

Re: Close Credit One or take their better offer?

19eighty5 — Fri, 29 Jun 2018 03:56:40 GMT

As a reminder... in case you are having second thoughts... option #2 LOL!

I look forward to cutting the cord on my CreditOne card in March 2019.