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Closed Credit One

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Valued Contributor

Re: Closed Credit One


@AverageJoesCredit wrote:
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???

I closed my Credit1 account about two years ago. It still shows zero balance closed by consumer. So in my case, it did not get deleted.  But could that bed because it was NOT my oldest account?

 

If they really do remove the tradeline because it's your oddest account in an effort to ding Your score,  that's really crappy on there part. Such childish behavior! 

 

All the more reason to get rid of them!


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
Message 11 of 25
Valued Contributor

Re: Closed Credit One


@GTC471 wrote:
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.

Ok, I accounted at least SEVEN Amex cards, some Citi, Chase, Discover, BofA etc etc in your profile. These are all prime lenders.

 

It's time for you to kill Credit1 and 1st Premiere.  You being concerned because there your oldest account is non consequential! 

 

If anything, the mere presence of them being an open account on your credit report could be considered a turn off by other lenders.  

 

Sorry GT, that's like "not being able to see the forest because of the trees!" 

 

Kill them today!


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
Message 12 of 25
Frequent Contributor

Re: Closed Credit One

Ok. I might. Ugh. I just don't want it to affect my average age. But then, they were only 6-7 months older when I got my first AMEX cards. Do you think it will turn off other lenders? I didn't think about that at all.
Message 13 of 25
Valued Contributor

Re: Closed Credit One


@GTC471 wrote:
Ok. I might. Ugh. I just don't want it to affect my average age. But then, they were only 6-7 months older when I got my first AMEX cards. Do you think it will turn off other lenders? I didn't think about that at all.

It won't affect your average age at all, In fact, they will continue to grow and age for the next ten years until they age off your retorts. 

 

It won't affect your age of oldest account either. Someone can correct me if I'm wrong, but I believe Fico algorithms take "full" years into account for scoring purposes. If there's only 7 months difference, between those cards and your Amex cards, the difference is zero. 

 

Kill them, and feel good about killing them! I would. 


Current Scores 3/2016 Equifax 676 Transunion 697 Experian 648 Goal Scores: 720's accross the board. Gardening Goal: 3/2017
Message 14 of 25
Established Contributor

Re: Closed Credit One


@TroyF44 wrote:
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

I am SHOCKED!! I haven't heard of this!! So my question to everyone is how is this legal?    I am sure they would leave it  on your CRB's if there was something negitive to report!! I say this is CRAP!!  You earned your credit history and it should still be there. I would contact someone like BBB and file a complaint

Current as of 3/21/18 EQ 609 TU 619 EX 628
Discharge 7/2016 Ch 7 BK
Message 15 of 25
Contributor

Re: Closed Credit One

I have given this allot of thought, in my particular situation, this account was only 3 months older than my second account. It dinged me by about 12 points. I am happy and mad about this all at the same time. Indeed, it is my credit history, and it should be accurately reported, however, without it on my report at all. I actually believe my history looks a whole lot better. Now there is no eveidence, except the inquiry, that will go away soon! I am sure they do this to hurt people that drop them, but the silver lining is they are kind of doing some people a favor. Now, if I had this account for a couple of years before I got anything else, I would be furious! Lol
Message 16 of 25
Regular Contributor

Re: Closed Credit One

It's always so refreshing to just be done with it
! Congrats to you!
AMEX PRG(NPSL) // AMEX BCE($1K) // AMEX HILTON($1K) // AMEX DELTA GOLD($6K) // US BANK CASH + (2K) // COSTCO CITI($6.5K) // NCFU CASH REWARDS ($2.6K) // BARCLAYS REWARDS ($7.5K) // CHASE SW($2.7K) // BOFA ALASKA ($6.7K) // CAP ONE QUICKSILVER($750) // FIRESTONE($1.2K) // KOHLS($750) // PAYPAL CREDIT ($2,75K) // NORDSTROM ($1K)







FICO 08 SCORES-TU-721 EQ-645 EX-713

TOTAL CREDIT LINE= $35,000
Message 17 of 25
Community Leader
Senior Contributor

Re: Closed Credit One

RIP OFF THE BANDAID NOW....

If you keep their cards open and pay the fees.. your being blackmailed...

You have enough PRIME cards to soften the blow...

Your going to have score fluxuations .. credit is fluid not static.. esp when younger....

 

Please. for the love of MyFico, ditch both Credit One and First Premier.... both are parasites and frankly on manual review of your credit report.. they stand out like sore thumbs esp if youve gone beyond them. Which you have...

 

 

Message 18 of 25
Regular Contributor

Re: Closed Credit One

I'm now glad I never opened up one of these subprime credit cards. I spent months researching rebuilding cards and read awful things about them.

However, It was my understanding that the CRA's decided to keep a closed cc on the report for up to 10 years if it was closed in good standing. Seems to me if one chose to challenge Credit One for deleting an account so to save the age of accounts they would have a good case? Does not seem it's Credit One's call.
Message 19 of 25
Contributor

Re: Closed Credit One

It is indeed the practice to remain on credit report for 10 years, provided that the creditor reports it as closed. These a holes are choosing to remove the account though. I pondered taking them on about it, then came to the realization it's a blessing to not have it on there at all! Lol
Message 20 of 25
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