First, I want to thank the wonderful people on this board for the great information and support that they provide. I have been a member for almost 1 year and have managed to bring my scores from a 550 to a decent 687.
I finally closed one of my starter cards from Wellsfargo *secured* (it refused to budge...at all!) and I decided to come out of the garden and apply for a few cards today, before my score takes a temporary hit for closing the WF card. I was instantly approved for Discover IT- 3000.00, Amex (cash everyday)- 1800.00 and Chase Sapphire 5000.00! This is my first 5000.00 limit!! I am so excited. It is so nice to finally see my credit growing, and I owe alot to this board for the valuable information. Now, back to the garden I go!!
edited to correct spelling...
Far as I know there is no hit for closing a card? Might be, I dunno!
Congrats! Big congrats on the Chase Sapphire!
also, what limit was your wf secured? How long did you have it for. I'm debating whether to close mine too. I had it for 2.5 years. Never seen graduation
It was a secured card with a 900.00 limit....I opened it in 2012!! My Capital One Sony is 4000.00....Walmart, Old Navy, Home Depot are 4000.00 as well. So I felt that the secured card had served its purpose and its time to move on.......I really dont know whats up with Wellsfargo, some people have better luck with them.
Congrats on your app spree!!!!!.Looks like it paid off... WF just doesnt seem to move much at all...
You will not take a hit on your score for closing the card. It does not lower your AAOA. It will stay on your reports for 10 years. Added new accounts will.