topic Re: CREDIT ONE CLOSED. What's next? in General Credit Topics

CREDIT ONE CLOSED. What's next?

Anonymous — Thu, 09 Jul 2020 23:32:44 GMT

I have been delaying FOREVER to close this card because I had it for 2 years and perfect payment. This card and DISCOVER IT were two of my rebuilding cards for the past 2 years. A year later it was a perfect timing to expand my credit profile so I went for

AMEX BLUE CASH EVERYDAY - $8,000 (currently use for groceries etc)

CHASE FREEDOM UNLIMITED - $4,000 (currently use for Lyft etc)

CAPITALONE QUICKSILVER - $6,100 (currently use for traveling etc)

Disover It is also at $3,500 (for whatever)

which totals my credit to $26,000 which I'd like it higher lol

I have no collections, 3 inquiries (will fall over a year later)

1 Unsecured Loan from Affirm which I paid off just so I can have a credit mix

2 Closed Account from Credit One & Chase Slate (closed 3 years ago cause I didn't have enough credit history)

EXPERIAN - 734 dropped 23 pts

EQUIFAX - 742 dropped 22

TRANSUNION - 749 dropped 12

NO LATE PAYMENTS, ALL ACCOUNTS IN HEALTHY STANDING!!!

Guessing the drops are from Credit One closing and all accounts are reported 0. Tomorrow Discover will report 1...I know AZEO method lol so I will definitely get a nice little bump tomorrow!!

So what's next? Should I apply for another card? I'm in good standing and proud of where I am so give me advice and tips guys

Re: CREDIT ONE CLOSED. What's next?

Anonymous — Thu, 09 Jul 2020 23:58:29 GMT

Congratulations! You're doing great!!

Re: CREDIT ONE CLOSED. What's next?

Iusedtolurk — Fri, 10 Jul 2020 00:45:26 GMT

@Anonymous wrote:
I have been delaying FOREVER to close this card because I had it for 2 years and perfect payment. This card and DISCOVER IT were two of my rebuilding cards for the past 2 years. A year later it was a perfect timing to expand my credit profile so I went for

AMEX BLUE CASH EVERYDAY - $8,000 (currently use for groceries etc)
CHASE FREEDOM UNLIMITED - $4,000 (currently use for Lyft etc)
CAPITALONE QUICKSILVER - $6,100 (currently use for traveling etc)
Disover It is also at $3,500 (for whatever)
which totals my credit to $26,000 which I'd like it higher lol

I have no collections, 3 inquiries (will fall over a year later)
1 Unsecured Loan from Affirm which I paid off just so I can have a credit mix
2 Closed Account from Credit One & Chase Slate (closed 3 years ago cause I didn't have enough credit history)

EXPERIAN - 734 dropped 23 pts
EQUIFAX - 742 dropped 22
TRANSUNION - 749 dropped 12

NO LATE PAYMENTS, ALL ACCOUNTS IN HEALTHY STANDING!!!

Guessing the drops are from Credit One closing and all accounts are reported 0. Tomorrow Discover will report 1...I know AZEO method lol so I will definitely get a nice little bump tomorrow!!
So what's next? Should I apply for another card? I'm in good standing and proud of where I am so give me advice and tips guys

Congrats on your achievements so far! Real nice scores. If like you said you want to increase your cl another card wouldn't hurt if cli is not available on present cards.

Out of curiosity did Creditone offer you anything to keep the account open? (They usually have been known to do that).

Re: CREDIT ONE CLOSED. What's next?

blindambition — Fri, 10 Jul 2020 01:17:24 GMT

Congrats! I'd suggest kicking back in the garden. Let your newer accounts age some. Gain back some points.

Re: CREDIT ONE CLOSED. What's next?

Anonymous — Fri, 10 Jul 2020 02:08:07 GMT

@Anonymous wrote:
I have been delaying FOREVER to close this card because I had it for 2 years and perfect payment. This card and DISCOVER IT were two of my rebuilding cards for the past 2 years. A year later it was a perfect timing to expand my credit profile so I went for

AMEX BLUE CASH EVERYDAY - $8,000 (currently use for groceries etc)
CHASE FREEDOM UNLIMITED - $4,000 (currently use for Lyft etc)
CAPITALONE QUICKSILVER - $6,100 (currently use for traveling etc)
Disover It is also at $3,500 (for whatever)
which totals my credit to $26,000 which I'd like it higher lol

I have no collections, 3 inquiries (will fall over a year later)
1 Unsecured Loan from Affirm which I paid off just so I can have a credit mix
2 Closed Account from Credit One & Chase Slate (closed 3 years ago cause I didn't have enough credit history)

EXPERIAN - 734 dropped 23 pts
EQUIFAX - 742 dropped 22
TRANSUNION - 749 dropped 12

NO LATE PAYMENTS, ALL ACCOUNTS IN HEALTHY STANDING!!!

Guessing the drops are from Credit One closing and all accounts are reported 0. Tomorrow Discover will report 1...I know AZEO method lol so I will definitely get a nice little bump tomorrow!!
So what's next? Should I apply for another card? I'm in good standing and proud of where I am so give me advice and tips guys

With the info you provided, closing the Credit One shouldn't have any immediate impact on your scores. You'll certainly gain points back when all of your accounts are not reporting 0. Let us know the results when the Discover reports a balance.

Re: CREDIT ONE CLOSED. What's next?

Anonymous — Sat, 11 Jul 2020 15:58:26 GMT

Yes. They have when I wanted to closed the account in the past. They would extend the fee for 3 months. That's about it. This time when I called the lady didn't offered anything which was good. Everything just went straight to the point lol

I can also confirmed that I gained my lost points back when Disover got reported haha. All seems well so far.

I'll like just one more card. JUST ONE lol but I mean 4 is good but mmm maybe idk haha

Re: CREDIT ONE CLOSED. What's next?

gingerflower — Sat, 11 Jul 2020 16:53:45 GMT

@Anonymous

Congratulations your doing an excellent job with your credit building!!

Re: CREDIT ONE CLOSED. What's next?

Anonymous — Sat, 11 Jul 2020 17:38:18 GMT

Thanks. Also hit the increase button on discover...it said $300. I accepted..then call to double dipped...she said $700 so of course I accepted!!

Discover is now $3500 to $4500...I ased for that $500 extra increased if possible but she said sorry haha

Re: CREDIT ONE CLOSED. What's next?

AllZero — Sat, 11 Jul 2020 17:45:33 GMT

@Anonymous wrote:
Thanks. Also hit the increase button on discover...it said $300. I accepted..then call to double dipped...she said $700 so of course I accepted!!

Discover is now $3500 to $4500...I ased for that $500 extra increased if possible but she said sorry haha

Congratulations on your double dip CLI!

Re: CREDIT ONE CLOSED. What's next?

Mr_Mojo_Risin — Sat, 11 Jul 2020 19:17:21 GMT

Oooh nice! Little double dip action, I'm diggin it. Nicely done!

Re: CREDIT ONE CLOSED. What's next?

zerofire — Thu, 16 Jul 2020 17:28:27 GMT

It looks like your existing accounts are in good shape right now. I would ask American Express, Discover, and Capital One if they are willing to do a CLi without HP depending on how long you have not asked recently so you have spare. Other than that you should enjoy the cards you have and let them age some more.

Re: CREDIT ONE CLOSED. What's next?

SouthJamaica — Fri, 17 Jul 2020 01:08:43 GMT

@Anonymous wrote:
I have been delaying FOREVER to close this card because I had it for 2 years and perfect payment. This card and DISCOVER IT were two of my rebuilding cards for the past 2 years. A year later it was a perfect timing to expand my credit profile so I went for

AMEX BLUE CASH EVERYDAY - $8,000 (currently use for groceries etc)
CHASE FREEDOM UNLIMITED - $4,000 (currently use for Lyft etc)
CAPITALONE QUICKSILVER - $6,100 (currently use for traveling etc)
Disover It is also at $3,500 (for whatever)
which totals my credit to $26,000 which I'd like it higher lol

I have no collections, 3 inquiries (will fall over a year later)
1 Unsecured Loan from Affirm which I paid off just so I can have a credit mix
2 Closed Account from Credit One & Chase Slate (closed 3 years ago cause I didn't have enough credit history)

EXPERIAN - 734 dropped 23 pts
EQUIFAX - 742 dropped 22
TRANSUNION - 749 dropped 12

NO LATE PAYMENTS, ALL ACCOUNTS IN HEALTHY STANDING!!!

Guessing the drops are from Credit One closing and all accounts are reported 0. Tomorrow Discover will report 1...I know AZEO method lol so I will definitely get a nice little bump tomorrow!!
So what's next? Should I apply for another card? I'm in good standing and proud of where I am so give me advice and tips guys

1. I doubt you lost any points from closing Credit One.

2. Sounds like the entire point loss was attributable to the All Zero penalty.

3. It doesn't seem to me that you need any more cash back cards, you're well covered and diversified in that department. So I would suggest you look for another category of card. E.g. travel card, or credit union platinum card (low interest, no balance transfer fee, some no cash advance fee either)