@joshk4u wrote:Does it hurt to keep the cap one secure card open ?
Would love some insight on this topic ! Congrats on your rebuilders.
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3 months?! wth?
is there an option on how you get reimbursed?
@NotYou007 wrote:It takes about 3 months from the date you close your card to get your money back. I'm around the 2 month mark now and still waiting for my $49 dollars.
6% Util
@joshk4u wrote:Does it hurt to keep the cap one secure card open ?
Would love some insight on this topic ! Congrats on your rebuilders.
It depends upon various factors personal to you. One of the first cards I opened to begin rebuilding credit was the Capital One secured card. My $49 deposit was good for a $200 credit limit, which was helpful at that point. After paying on time for a number of months, the credit limit was increased to $500. As a practical matter, this card isn't really usefull to me anymore, other than for the $500 it adds to my available credit, and for for the one more month of one more card reporting on time every month (with a $0 balance). But I'm not in need of the $49 deposit back, and am satisfied with keeping the open account while my $49 sits idle. On the other hand, another secured card that I obtained at the beginning of my rebuild required a $200 deposit for a $200 credit limit, in addition to a $39 annual fee. That account will be closed before the annual fee is billed. Neither the $39 annual fee nor the $200 deposit are justified for this card now that my credit has been re-established, let alone both. That card is just expensive clutter.
