topic Re: Credit One Closure in Credit Cards

Credit One Closure

Peazmom — Mon, 15 Apr 2019 14:50:30 GMT

After successfully securing a NFCU Platinum and Discover Chrome yesterday, I started the process of shutting down the predatory cards in my wallet. First on the chopping block was Credit One, as its annual fee is coming up at the end of the month. They transferred me to 3 different CS reps, each trying to talk me in to keeping the line open....seriously? Finally, it’s was closed out...Next on the chopping block, First Premier.

Re: Credit One Closure

thornback — Mon, 15 Apr 2019 15:45:12 GMT

Good for you!! And congrats on your NFCU & Disco approvals

Re: Credit One Closure

pinkandgrey — Tue, 16 Apr 2019 01:15:31 GMT

Wise. Just get them GONE lol. Congrats!

Re: Credit One Closure

Adkins — Tue, 16 Apr 2019 01:30:04 GMT

@Peazmom wrote:
After successfully securing a NFCU Platinum and Discover Chrome yesterday, I started the process of shutting down the predatory cards in my wallet. First on the chopping block was Credit One, as its annual fee is coming up at the end of the month. They transferred me to 3 different CS reps, each trying to talk me in to keeping the line open....seriously? Finally, it’s was closed out...Next on the chopping block, First Premier.

Congratulations!

Re: Credit One Closure

Anonymous — Tue, 16 Apr 2019 02:10:23 GMT

Congratulations!

I am doing the same thing, have to call in couple days to close it too.

Now did you pay the full balance or paid more?

As i was reading some card holders paid the full balance and closed account and then after like 6,8 months they got some envolope that credit one was requesting to pay some fees that where not paid, even with acount closed.

Curios about this as i don't want surprises after is closed.

Thanks,

Re: Credit One Closure

Anonymous — Tue, 16 Apr 2019 03:54:30 GMT

Congrats on this, I haven't closed mine out of fear of them messing up my credit out of spite. I've heard stories about them doing some dirty stuff after they say they've closed it, like charge late fees and stuff like that

Re: Credit One Closure

Peazmom — Tue, 16 Apr 2019 12:21:56 GMT

@Anonymous wrote:
Congratulations!

I am doing the same thing, have to call in couple days to close it too.
Now did you pay the full balance or paid more?
As i was reading some card holders paid the full balance and closed account and then after like 6,8 months they got some envolope that credit one was requesting to pay some fees that where not paid, even with acount closed.
Curios about this as i don't want surprises after is closed.

Thanks,

I had paid down to zero before the last statement cut. When that statement cut last week, there was an interest charge posted from the previous balance. I paid the interest charge and waited until the account zero'd out then called. They will try to pressure you to stay with promises of breaking up the AF into 12 monthly payments, and they also dangled cash back from last year that I could get if I stayed with them. I was firm, but polite. I did ask if there would be any trailing interest and the CS rep said there would not. I will be watching them through my online access, though to make sure nothing turns up.

Re: Credit One Closure

Anonymous — Tue, 16 Apr 2019 12:39:46 GMT

@Peazmom wrote:
@Anonymous wrote:
Congratulations!

I am doing the same thing, have to call in couple days to close it too.
Now did you pay the full balance or paid more?
As i was reading some card holders paid the full balance and closed account and then after like 6,8 months they got some envolope that credit one was requesting to pay some fees that where not paid, even with acount closed.
Curios about this as i don't want surprises after is closed.

Thanks,
I had paid down to zero before the last statement cut. When that statement cut last week, there was an interest charge posted from the previous balance. I paid the interest charge and waited until the account zero'd out then called. They will try to pressure you to stay with promises of breaking up the AF into 12 monthly payments, and they also dangled cash back from last year that I could get if I stayed with them. I was firm, but polite. I did ask if there would be any trailing interest and the CS rep said there would not. I will be watching them through my online access, though to make sure nothing turns up.

Thanks for that info.

Will be paying with in the next couple days , must have little time as i am moving but thanks for the advice how you done it.

I also have on my Chopping Block: First Premier $90 left, will be paying that too.

Let Us know on a new tread/post how that went too.

Thanks,

Re: Credit One Closure

Anonymous — Tue, 16 Apr 2019 13:28:07 GMT

To echo what was mentioned above, pay those cards to zero. Wait for the next statement and pay any trailing interest that shows up. Soon as a statement cuts with a true zero balance, close them on the spot.

Congrats to all of you doing this - closing cards from those banks is a great thing and I love that kind of happy ending. Onward to better cards now

Re: Credit One Closure

Peazmom — Tue, 16 Apr 2019 17:25:58 GMT

@Anonymous wrote:
To echo what was mentioned above, pay those cards to zero. Wait for the next statement and pay any trailing interest that shows up. Soon as a statement cuts with a true zero balance, close them on the spot.

Congrats to all of you doing this - closing cards from those banks is a great thing and I love that kind of happy ending. Onward to better cards now

Thank you sir! This whole rebuilding is certainly a marathon and not a sprint. I'm learning so much along the way, and getting rid of the predatory cards is a biggie!

Re: Credit One Closure

Anonymous — Tue, 16 Apr 2019 17:50:03 GMT

That it definitely is. Having a great strategy and apping for cards that reward your lifestyle is the key. From your sig it looks like you’re doing a great job. Keep it up and you’ll be home-free in no time

Re: Credit One Closure

Peazmom — Tue, 16 Apr 2019 17:36:33 GMT

@Anonymous wrote:
That it definitely is. Having a great strategy and aping for cards that reward your lifestyle is the key. From your sig it looks like you’re doing a great job. Keep it up and you’ll be home-free in no time

Getting there, slowly but surely. The NFCU and Disco were added just this past Sunday, and the AMEX Delta Gold was added yesterday. It's a full stop for me now for a few months of gardening until I can add NFCU #2. Prior to this week, all I had were the Secured USAA, Bucket QS1 and the two predators (Credit One and First Premier). Got that UTL down, and paid off the 1 collection from PRA (still waiting for it to be deleted) and had some inq fall off and BAM...I feel like a girl at the ball again!

Re: Credit One Closure

Anonymous — Tue, 16 Apr 2019 17:52:12 GMT

If that PRA collection is your only derog and your UTI is low, you can plan on a big score increase when they delete it. With UTI in the proper place, people are known to shoot up 50-100 points (profile dependent) when their reports shed that last baddie. I hope you’re at the high end of that range!