topic Credit One Credit Card in General Credit Topics

Credit One Credit Card

Anonymous — Mon, 10 Mar 2008 16:41:40 GMT

Hi Everyone! I am trying to improve my credit to buy a condo. I opened a few credit cards (HSBC, Credit One, Chevron, and a secured Bank of America) to improve my credit rating which is EQ 495, TU 553, and EX 501. I fell really behind on my bills after a divorce and a few hospitalizations. Most of my delinquencies are medical but I have a few old credit cards as well. I also have 6 late payments on a car loan I had with VW but they allowed me to get a new lease with them in December. I have a Credit One Credit Card which has outrageous fees. It costs $7.95 just to pay the bill online. According to the system I use to run my credit if I pay off all the cards my score will be in the high 600's. Will closing my Credit One account bring my score down? I am going to pay it off this week so there will be a zero balance but I would like to get my score as high as possible before this summer when I plan on buying the condo. I am starting med school in the fall so I need to get this all taken care of now... any advice?

Re: Credit One Credit Card

Anonymous — Mon, 10 Mar 2008 16:52:13 GMT

IF your overall UTL is still under 10% and this is not your oldest card- you should be OK-

Read Fused's Closing Credit Cards thread.

http://ficoforums.myfico.com/fico/board/message?board.id=generalcredit&thread.id=30100

bizz0976 wrote:

Hi Everyone! I am trying to improve my credit to buy a condo. I opened a few credit cards (HSBC, Credit One, Chevron, and a secured Bank of America) to improve my credit rating which is EQ 495, TU 553, and EX 501. I fell really behind on my bills after a divorce and a few hospitalizations. Most of my delinquencies are medical but I have a few old credit cards as well. I also have 6 late payments on a car loan I had with VW but they allowed me to get a new lease with them in December. I have a Credit One Credit Card which has outrageous fees. It costs $7.95 just to pay the bill online. According to the system I use to run my credit if I pay off all the cards my score will be in the high 600's. Will closing my Credit One account bring my score down? I am going to pay it off this week so there will be a zero balance but I would like to get my score as high as possible before this summer when I plan on buying the condo. I am starting med school in the fall so I need to get this all taken care of now... any advice?

Re: Credit One Credit Card

Anonymous — Mon, 10 Mar 2008 16:58:19 GMT

Awesome!!!! Thanks so much!