Cancel Citi Secured and open a new card?

renamariee · ‎05-18-2021

Right now I have my secured citi ($300) and I am an authorized user on my mom's CareCredit card ($10K). Those are my only two cards. I have like 6 collections from 2019 and before. ($2000, $1406, $435, $261, $1102) I was hoping to pay them off once I got my tax refund but Uncle Sam says I have to wait another 6-10 weeks.

Starting Score: 587
Current Score: 637
Goal Score: 650

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sjt · ‎05-19-2021

@renamariee wrote:
Right now I have my secured citi ($300) and I am an authorized user on my mom's CareCredit card ($10K). Those are my only two cards. I have like 6 collections from 2019 and before. ($2000, $1406, $435, $261, $1102) I was hoping to pay them off once I got my tax refund but Uncle Sam says I have to wait another 6-10 weeks.

The outstanding collections are probably the reason Citibank did not graduate you. I would hold on to your Citibank Card and go for the Capital One card. I would also work on those collections. Who are the collection agencies and what were those collections for? You might be able to do a PFD.

American Express: Platinum Charge, Optima, Business Gold, Delta Business Reserve, Business Cash, Business Plus
Barclays: Arrival+ WEMC
Capital One: Savor WEMC, Venture X Visa Infinite
Chase: Freedom U Visa Signature, CSR Visa Infinite
Citibank: AAdvantage Platinum WEMC
Elan/US Bank: Fidelity Visa Signature
Credit Union: Cash Back Visa Signature
FICO 08: Score decrease between 26-41 points after auto payoff (11.01.21) FICO as of 5.23, EX: 812 / EQ: 825 / TU: 815

renamariee · ‎05-21-2021

I have 6 collections and based on the thread here, 2 will PFD, 2 I might be able to recall from the OC and the other two (Pro Collect, and Receivable Management Group) are unknown. OCs are an old amazon card, a broken lease, a medical bill, and 3 internet providers.

Starting Score: 587
Current Score: 637
Goal Score: 650

Take the myFICO Fitness Challenge