topic Re: Closing a secured Card. in Credit Cards

Closing a secured Card.

newbiewife — Fri, 09 Aug 2013 16:01:05 GMT

When is the best time to close a secured card? My secured card with cap1 is 351 w/ 35 Af, should I close it now or just keep it and keep using it. Although my credit is new I am having a second thought. Any advice?

Zions -2500
Dillards-1800
Chase-2200
Amex TE- 4500
BCE- 4400
Discover-8750

Re: Closing a secured Card.

myjourney — Fri, 09 Aug 2013 16:03:52 GMT

@newbiewife wrote:
When is the best time to close a secured card? My secured card with cap1 is 351 w/ 35 Af, should I close it now or just keep it and keep using it. Although my credit is new I am having a second thought. Any advice?

Zions -2500
Dillards-1800
Chase-2200
Amex TE- 4500
BCE- 4400
Discover-8750

What are you doing out of the garden...Lol joking

Wait until your 3X CLI is complete and then make your choice but either way your not losing much UTL wise. How old is the card?

Re: Closing a secured Card.

newbiewife — Fri, 09 Aug 2013 16:25:11 GMT

Geee not that old 10 months old. Hehehehe.... don't worry myjourney I'm not doing anything silly!

Re: Closing a secured Card.

myjourney — Fri, 09 Aug 2013 16:27:56 GMT

@newbiewife wrote:
Geee not that old 10 months old. Hehehehe.... don't worry myjourney I'm not doing anything silly!

So the AF is coming up?

Shut it down then you're in great shape with great cards now and as for the highlighted area....good Lol

Re: Closing a secured Card.

newbiewife — Fri, 09 Aug 2013 16:31:49 GMT

Yes AF is coming up I don't mind the AF, its just the thought of if I keep it for many years then suddenly shut down then I lost long history. I'm still waiting for 3xCLI. Heheheheh

Re: Closing a secured Card.

myjourney — Fri, 09 Aug 2013 16:36:25 GMT

@newbiewife wrote:
Yes AF is coming up I don't mind the AF, its just the thought of if I keep it for many years then suddenly shut down then I lost long history. I'm still waiting for 3xCLI. Heheheheh

Since all your accounts are new your not losing anything but maybe a few months of AAoA

And the positive TL will still report for 10 years so if your going to do it now is the best time IMO

Re: Closing a secured Card.

newbiewife — Fri, 09 Aug 2013 16:43:20 GMT

Okie dokie myjourney. Thanks! See yah in the garden

Re: Closing a secured Card.

myjourney — Fri, 09 Aug 2013 16:54:03 GMT

@newbiewife wrote:
Okie dokie myjourney. Thanks! See yah in the garden

Don't forget the party tonight

Re: Closing a secured Card.

Shogun — Fri, 09 Aug 2013 17:12:15 GMT

You've got some pretty nice cards to take its place now. It may be time to cut the cord.

Re: Closing a secured Card.

newbiewife — Fri, 09 Aug 2013 17:28:41 GMT

Party? We have party in the garden????

@shogun- thanks I think that's what I'm going to do.:smiley:

Re: Closing a secured Card.

Shogun — Fri, 09 Aug 2013 17:42:50 GMT

Friday night social... They've even got me going to it now... sheeesh...

Re: Closing a secured Card.

myjourney — Fri, 09 Aug 2013 17:45:50 GMT

@Shogun wrote:
Friday night social... They've even got me going to it now... sheeesh...

That's right and we expect both of you in attendance tonight

Re: Closing a secured Card.

newbiewife — Fri, 09 Aug 2013 18:19:53 GMT

Alright! I'll be there then.