topic Re: CLOSING SECURED CAP1 in Credit Cards

CLOSING SECURED CAP1

newbiewife — Mon, 16 Sep 2013 17:57:11 GMT

Help! I just closed my secured account from cap1. 351 limit is that okay? All though my credit is very new. I manage to obtain BOA:10X, AMEX: 12400 DISCO :10500 ZIONS:2500 CHASE:2200 DILLARDS:1800
DO YOU THINK THIS WILL HAVE AN efFECT ON MY CREdit? Oh and 10 mos. History. 721 ex, 742 tu, 730 equi.

Re: CLOSING SECURED CAP1

TheClub — Mon, 16 Sep 2013 18:32:31 GMT

@newbiewife wrote:
Help! I just closed my secured account from cap1. 351 limit is that okay? All though my credit is very new. I manage to obtain BOA:10X, AMEX: 12400 DISCO :10500 ZIONS:2500 CHASE:2200 DILLARDS:1800
DO YOU THINK THIS WILL HAVE AN efFECT ON MY CREdit? Oh and 10 mos. History. 721 ex, 742 tu, 730 equi.

I'm not exactly sure why this is a problem. This will have little affect on your CS as it is just a small portion of your UTL. Also, it will remain on CR and will be factored into your AAOA for at least the next ten years.

This is something to celebrate as you've alleviated yourself from the dead weight. Also, CONGRATS on making so much progress so quickly.

Hope this info helps.

Re: CLOSING SECURED CAP1

injustifiiable — Mon, 16 Sep 2013 19:08:20 GMT

You have an AMEX! I wouldn't lose sleep over $351...lol. It'll still report positively for 10 years.

Re: CLOSING SECURED CAP1

newbiewife — Mon, 16 Sep 2013 19:52:25 GMT

not the amount hahhaha... its the history.

Re: CLOSING SECURED CAP1

thatoneguy28 — Mon, 16 Sep 2013 23:01:30 GMT

i dont think it will hurt u at all.this card was my first card ever and it helped me get into primeville.i recently got approved for the chase sapphire card.

Re: CLOSING SECURED CAP1

myjourney — Mon, 16 Sep 2013 23:05:11 GMT

Close it and don't look back

Re: CLOSING SECURED CAP1

newbiewife — Mon, 16 Sep 2013 23:21:31 GMT

Oh yeah myjourney you bet not looking back at all! thank you myficoer for all your wonderful opinion. Cap1 closed!

Re: CLOSING SECURED CAP1

09Lexie — Mon, 16 Sep 2013 23:22:07 GMT

As long as you closed it with a zero balance you're fine. Remember, closed accts may stay up to 10 years and will count towards your AAOA.

Re: CLOSING SECURED CAP1

myjourney — Mon, 16 Sep 2013 23:24:19 GMT

@newbiewife wrote:
Oh yeah myjourney you bet not looking back at all! thank you myficoer for all your wonderful opinion. Cap1 closed!

Moving on up to bigger and better cards!!!

Re: CLOSING SECURED CAP1

newbiewife — Mon, 16 Sep 2013 23:35:05 GMT

Thanks lexie. It is zero balance. Thats why I'm glad toclose it. its just at first I'm little worried about the history although not much but history is history. And now its finally closed I don't mind losing 351 to be exact. But for that amount I'm thankful.

Re: CLOSING SECURED CAP1

myjourney — Mon, 16 Sep 2013 23:37:07 GMT

Look at the new card with the largest limit.....

Now feel better Lol

I know you do

Re: CLOSING SECURED CAP1

newbiewife — Tue, 17 Sep 2013 00:08:03 GMT

Hehehe.... lol!

Re: CLOSING SECURED CAP1

Anonymous — Tue, 17 Sep 2013 00:29:04 GMT

You got AMEX and BOA at those limits with only 10 months of history?!?! O.O is your income high?

Re: CLOSING SECURED CAP1

newbiewife — Tue, 17 Sep 2013 03:11:14 GMT

Amex got in july. Boa just recent. Last week I think. Income is okay 40-50. And I'm done apping. Till everything fall off my report.

Re: CLOSING SECURED CAP1

Anonymous — Tue, 17 Sep 2013 10:32:51 GMT

I would have tried EO route on card first to get unsecured cl, no af, and quicksilver or quicksilver like rewards put on. Wonder if too late on closed card.

Re: CLOSING SECURED CAP1

newbiewife — Tue, 17 Sep 2013 12:33:49 GMT

Yes crash... its too late.