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Closed Credit One

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Closed Credit One

Hello All, I closed my Credit One account a couple of weeks ago. I made this decision to get rid of the account, simply because I never use it and it had an annual fee. The information that I read about before closing said, in a nutshell, the account would be closed and report for 10 years as closed and would not affect AAoA. This is not what happened, lol Not only did they Close it, they REMOVED it! Lol like it never existed on all 3 reports. This was my oldest account so it dinged pretty hard. Good news is, there is no eveidence of this account, ever. Anyone ever experience this? Or do most creditors just mark the account "closed by consumer" any thoughts or discussion is appreciated. Thanks
Message 1 of 25
24 REPLIES 24
Contributor

Re: Closed Credit One

I actually experienced this myself, it was my first card, exact same thing happened to me. On my credit report it says "Closed by consumer." It has never hurt me in anyway so I would not worry about it.
Message 2 of 25
Contributor

Re: Closed Credit One

Re-read that knight owl, that is what I was expecting, not what happened. It was completely removed, this did affect age of credit history.
Message 3 of 25
Community Leader
Senior Contributor

Re: Closed Credit One

I applied for credit one in June of 2016.....second card I apped for. It was approved, but I found this forum before I received it. 

 

Anyhoo, once I received the card, I called and cancelled it. The hp is on my CR but other than that, there is no trace if it. 

Got some pruning to do... No more new cards!
Message 4 of 25
Contributor

Re: Closed Credit One

Okay, then that affirms that it must be standard practice for them to remove vs. indicating closed. Thanks
Message 5 of 25
Valued Contributor

Re: Closed Credit One

It shows closed on my reports. Usually accounts do stay on the reports for another 10 years or so but this does happen sometimes. Sorry it dinged you.
Message 6 of 25
Frequent Contributor

Re: Closed Credit One

On my very 1st post here I was asking about new trade lines on my report showing from banks where I don't have any accounts with. And collection accounts showing as tradelines with derogatory record. It showed my length of credit history as 3 yrs. I paid those collections and had them removed and all records of it vanished from my report and brought my length of history to ZERO. Also some tradelines from other banks showing since 2012 were all of a sudden removed.

I'm glad I didn't close my Credit One rebuilder card yet. And the 1st Premier. I have been contemplating of closing them since I don't use them anymore. I'll keep them handy for a few more years I guess since they might remove them and bring my AAoA down and affect my score.
Message 7 of 25
Super Contributor

Re: Closed Credit One

Sounds like this is a practice that Credit One follows.  Not all creditors do this.  In fact, most don't.  Credit One is one of the worst creditors out there, lots of horror stories and negative reviews can be found.  This practice sort of follows suit.  Since they are a beginner sort of card for many people, they probably know that it's going to end up being their first (and oldest) trade line down the road.  They figure they will get dropped at some point, so they get to "have the last laugh" by knowing they can ding your AAoA a bit.  Just another crappy business practice by them to go along with their already questionable portfolio.

Message 8 of 25
Valued Contributor

Re: Closed Credit One

We're lucky in the fact the our Credit One card is only 1 month older than the next card(s) so if they do remove it it won't hurt us.
Message 9 of 25
Community Leader
Mega Contributor

Re: Closed Credit One

Definitely a petty move on the their part. The most important part though is youve parted ways which is good. Your aaol will recover with time. Like G.I Joe, Knowing is Half the BattleSmiley Happy. Now you know what to look for in a creditor and pick up some great advive here youll be fine. Can i get a Credit Who???
#ChaseCreditCardHobby Enthusiast
2022
!
Message 10 of 25
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