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Close CC and open up new (better) CC starting out?

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Anonymous
Not applicable

Re: Close CC and open up new (better) CC starting out?

Fair enough 😆 

Message 11 of 17
FinStar
Moderator Emeritus

Re: Close CC and open up new (better) CC starting out?


@Horseshoez wrote:

@Anonymous wrote:

fico9 sorry 580 not 550. anyway, any advice? TY!



@Binner wrote:

Sorry... its hard to give advice when that takes a person at least 2-3 years normally. Not sure what youve done or doing.


Agreed!  @Anonymous, if you're really on the level, you should be giving everybody else advice.  


@Horseshoez/ @Binner - the OP came here for advice on CC suggestions given their op -- not giving everybody else advice or write a book.  They have already clarified their score version, do you have any productive suggestions for them?

 

@Anonymous- if your FICO scores have dramatically improved in such a short period, then perhaps you can see if any of the [SP] pre-qualification sites may have any offers for you.  You can try Discover or others listed in the link below:

 

https://ficoforums.myfico.com/t5/General-Credit-Topics/Soft-pull-PREAPPROVALs-Updated-4-20-21/td-p/5938753

 

Besides the particular card you mentioned, do you have any other tradelines reporting?  You mentioned AZEO, what other revolving cards do you have? What is your AAoA?  The FICO9 score you mentioned, is that from TransUnion or..? Are there any derogs still present on your reports?

Message 12 of 17
Anonymous
Not applicable

Re: Close CC and open up new (better) CC starting out?

Hi thanks! I did a bunch of things. I got 2 negative tradelines removed. I paid down SL debt too. I have only 1 Ccard now. Yup thats my Q: should I get rid of my crappy credit builder CC and replace it w a better terms one? Or keep both of them?

Message 13 of 17
Anonymous
Not applicable

Re: Close CC and open up new (better) CC starting out?

Thanks,should I get rid of my 4 month long starter CC?

Message 14 of 17
coldfusion
Community Leader
Mega Contributor

Re: Close CC and open up new (better) CC starting out?

I would suggest you first identify the replacement card you want, get it, and use it for several weeks before cancelling your current card.

 

Thankfully you've got 8 months before a new annual fee on the existing card, so you don't have to act out of a sense of urgency .

(5/2024)
FICO 8 (EX) 846 (TU) 850 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion
Message 15 of 17
Ezk37
Established Member

Re: Close CC and open up new (better) CC starting out?

Would I be correct to suggest that canceling the old crappy CC would not effect AAoA? I was told that closing old accounts doesn't take them off your report for up to 10 years.

Signature coming shortly.
Message 16 of 17
Horseshoez
Senior Contributor

Re: Close CC and open up new (better) CC starting out?


@Ezk37 wrote:

Would I be correct to suggest that canceling the old crappy CC would not effect AAoA? I was told that closing old accounts doesn't take them off your report for up to 10 years.


You were informed correctly.

Chapter 13:

  • Burned: AMEX, Chase, Citi, Wells Fargo, and South County Bank (now Bank of Southern California)
  • Filed: 26-Feb-2015
  • MoC: 01-Mar-2015
  • 1st Payment (posted): 23-Mar-2015
  • Last Payment (posted): 07-Feb-2020
  • Discharged: 04-Mar-2020
  • Closed: 23-Jun-2020

 

I categorically refuse to do AZEO!

In the proverbial sock drawer:
Message 17 of 17
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