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Close or Hang On To?

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New Member

Close or Hang On To?

I have a Credit One rebuild card leftover from 2015, to which I pay about $8/month fee (AF broken into 12 pays). The CL is $2400. I haven't used the card in about two years.
Question is: Are those monthly pays counting towards my percentage of on-time payments and thus helping my score?
I appreciate the input!
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9 REPLIES 9
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Super Contributor

Re: Close or Hang On To?

Close it. Save $8 per month. Nothing special score wise by paying that fee.
High Bal Jan 2009 $116k on $146k limits 80% Util.
Oct 2014 $46k on $127k 36% util EQ 722 TU 727 EX 727
April 2018 $18k on $344k 5% util EQ 806 TU 810 EX 812
Jan 2019 $7.6k on $360k EQ 832 TU 839 EX 831
Message 2 of 10
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Moderator

Re: Close or Hang On To?

Hi and welcome @lostie78 

 

Close it. 

You might be sleep deprived if you try opening car door with Samsung Pay
Message 3 of 10
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Established Contributor

Re: Close or Hang On To?

Although it is VERY likely that my opinion is to close the card, to give a complete answer it would be helpful to know what other credit products you have, and their limits and balances, as well as your general FICO scores.

 

Also, yes, close it.  Smiley Wink

050719:     
091020:     

Message 4 of 10
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Community Leader
Senior Contributor

Re: Close or Hang On To?

Well, yes, paying off the AF would count like any other payment. BUT I wouldn’t hesitate to close that card. Close it and move on to better things. 

Discover It: 19.7k
Amex ED: 18k
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Best Buy Visa: 3k
~~~~~~~~~~~~~~~~~~
Once you go Berner, you never go back.
Message 5 of 10
Frequent Contributor

Re: Close or Hang On To?

Oh that’s easy. Close it. Move on and don’t look back. Good luck 😉

IMG_2701.jpg

Message 6 of 10
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Senior Contributor

Re: Close or Hang On To?

Like everyone else, I would get rid of it ASAP! Smiley Very Happy




Message 7 of 10
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Valued Contributor

Re: Close or Hang On To?

I am with the consensus and concur, close that puppy down. Your card has served its purpose. 

















Your FICO credit scores are not just numbers, it’s a skill.

Message 8 of 10
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Valued Contributor

Re: Close or Hang On To?

close it. Many better things to use
Bourbon and bow ties.
Current Cards:



2020 Goals:
$100K total CL (through organic/soft pull growth; COMPLETE!)
750+ across bureaus
No real goal cards for now
Garden Forever.
Message 9 of 10
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Senior Contributor

Re: Close or Hang On To?


@lostie78 wrote:
 I pay about $8/month fee (AF broken into 12 pays). 

I'm not sure how that AF works with monthly pymts. but once you close it you need to keep logging in and checking to make sure the AF doesn't sneak onto your acct.  I'd watch it until the full year is up and maybe then some.  Even if CSR tells you you're fine; still watch it.  And yes, chunk the muthaSmiley LOL




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Current Score: 786
Goal Score: 850


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