topic Re: Closing my CreditOne correctly in Credit Cards

Closing my CreditOne correctly

Anonymous — Mon, 27 Aug 2018 23:15:39 GMT

My credit one card has an annual fee that you pay every month. I currently get billed 5 a month. I have a zero balance.

If I push a 30 payment from my online bill pay, will that for sure close it at 0. I would cancel after they received the over payment.

I’d like to over pay because I’ve read about people getting small fees when they close and it ends up in a collection.

Re: Closing my CreditOne correctly

CGeorge — Mon, 27 Aug 2018 23:23:30 GMT

I am surprised about the monthly fees?

I still have two Credit One cards open (1 Visa and 1 Mastercard) - but I have never been charged a monthly fee for either of them....

If at all possible, I would close yours (By possible, I mean - that depends on your total credit situation: open and active accounts, total credit available and utilization rate...)

Good luck!

Re: Closing my CreditOne correctly

Anonymous — Tue, 28 Aug 2018 01:38:46 GMT

Just pay the $5 to get the account to zero. Then call customer service to confirm the balance is at zero. Have them close the account and send you a letter confirming the zero balance. I did this with Credit One 3 months ago and had no issues.

Re: Closing my CreditOne correctly

Adkins — Tue, 28 Aug 2018 01:55:56 GMT

@Anonymous wrote:
Just pay the $5 to get the account to zero. Then call customer service to confirm the balance is at zero. Have them close the account and send you a letter confirming the zero balance. I did this with Credit One 3 months ago and had no issues.

This^^

I also like to CYA. I recommend you file that letter with this year's taxes, just in case something funky shows up a few years down the road.

Re: Closing my CreditOne correctly

CGeorge — Tue, 25 Sep 2018 22:43:26 GMT

You can cancel at anytime. Even with a balance. But your cancellation would stop the monthly fees.

You, of course, are still responsible for paying whatever balance that you had when you closed, but you can always close, even with a balance. If you can, my suggestion is to close Credit One NOW.

Good luck to you!