Closed my last Secure Card! (Self)

citymunky · ‎07-22-2024

Going on a little over 3 years since I started my journey get my credit back on track.

During my early days, I opted to sign up for Self Loan, which led to opening their Secured CC using the funds from the loan as my security. I was happy with my whopping $250 SL. Over time I was able to increase my CL to $625 with $350 of that being secured.

Today I decided to closed to the card today for a few reasons.

I stop using the card a while ago, my last transaction was in Aug 2023.
The AF fee was coming due in Aug, and I didn't want to pay it again.
The card is designed to help build credit (which was one of many tools I used to do so), with that being say this is my lowest CL (Sub $1K)
Builder card = No Reward program. At this point of the game I try to maximize my reward earnings potential, and this card doesn't help.
My statement just posted yesteday so I will have 36 months of on-time payment history with this account.
I want my security deposit back.

While this card did it's job, its now time to move on. (Now I need to focus on on what to do with my 3 sub-prime cards { 2 with no AF, the other C1 QS1}).

Rebuilding since 2021

Closed CCs
USAA (Jul 2019| Settled CO), Jasper $1K CL (Jul21-Jul22), Sable $250CL{Secured} (Jan22-Jun23), CreditOne Platinum $750CL (Jul21-Aug23), Prosper $1.9K CL (Jan22-Apr24), Self $625 CL {$350 Secured } (Aug21-Jul24)

Starting FICO 8 Scores:

Current FICO 8 Scores:

FicoMike0 · ‎07-22-2024

Sounds like a good plan, move on.

keekers · ‎07-22-2024

Keep grinding.

Rdbeetle · ‎07-22-2024

Congrats on the progress you're making on your credit journey!

SchoolsFirst FCU Rewards WMC $25k
US Bank Smartly VS $15k
AMEX BCE $10k
Walmart CashRewards WMC $10k
FICO 8 Scores: EX 803 I TU 810 I EQ 809

ptatohed · ‎07-22-2024

That's awesome. Nice work cm.

Everyday 5% CB:
Chase prime Visa // citi CUSTOM CASH “A” // citi CUSTOM CASH “B” // citi CUSTOM CASH “C” // citi ThankYou (5% gas, lucrative spending offers) // mylowe’s Rewards // Target circle card

Rotating 5% CB:
Chase “OG” freedom Visa // DISCOVER it Cash Back // nusenda CU Platinum Cash Rewards

Everyday 4% CB:
US Bank Smartly (v1.0)

Everyday 3% / 2.2% CB:
AOD FCU Visa Signature (3%, sockdrawered) // upgrade Cash Rewards Elite (2.2%, sockdrawered)

Welcome Offer / credits only:
NFCU FLAGSHIP REWARDS (elevated Welcome Offer, annual prime credit, sockdrawered)

Hotel card:
Chase IHG ONE REWARDS PREMIER (elevated Welcome Offer, 1 free night/yr)

On my radar:
Langely FCU Signature Cash Back (5% CB monthly selectable cat) // Safe CU Cash Back+ (Quarterly rotating 5% CB cats plus bonus cats) // upgrade MyFive Cash Rewards (5% CB monthly selectable cat) // US Bank Kroger (and family) World Elite Master Card(s) (5% CB Mobile Wallet)

Creditwiser · ‎07-23-2024

Congrats on moving on ! Better days and better cards are ahead !

unsungivy · ‎07-23-2024

@citymunky wrote:
Going on a little over 3 years since I started my journey get my credit back on track.

During my early days, I opted to sign up for Self Loan, which led to opening their Secured CC using the funds from the loan as my security. I was happy with my whopping $250 SL. Over time I was able to increase my CL to $625 with $350 of that being secured.

Today I decided to closed to the card today for a few reasons.
I stop using the card a while ago, my last transaction was in Aug 2023.
The AF fee was coming due in Aug, and I didn't want to pay it again.
The card is designed to help build credit (which was one of many tools I used to do so), with that being say this is my lowest CL (Sub $1K)
Builder card = No Reward program. At this point of the game I try to maximize my reward earnings potential, and this card doesn't help.
My statement just posted yesteday so I will have 36 months of on-time payment history with this account.
I want my security deposit back.

While this card did it's job, its now time to move on. (Now I need to focus on on what to do with my 3 sub-prime cards { 2 with no AF, the other C1 QS1}).