Credit One... Gone

[One7]

Finally after 12 months of reporting I cancelled my Credit One Bank credit card account. Ive heard many bad things about the card but I never had any problems with it. It helped me tremendously to get my scores to where they are now, but I no longer need it. The annual fee and low limit will now just hurt me so I decided to call and they cancelled it without any fuss. They did ask me if I wanted a $200 increase for a charge of $19.95... psh yeah no. Then they said they could give me the increase for free and lower my apr for 6 months to 15%... yeah no, I almost took it but then I remembered the annual fee. So I told them no and they said ok and now my hands are clean. Feels like a weight has been lifted, clear skies ahead  To all the gurus out there, looking at my signature, should I cancel anything else or just leave it as is? Thanks for any help.

[SunriseEarth]

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@One7 wrote:

Finally after 12 months of reporting I cancelled my Credit One Bank credit card account. Ive heard many bad things about the card but I never had any problems with it. It helped me tremendously to get my scores to where they are now, but I no longer need it. The annual fee and low limit will now just hurt me so I decided to call and they cancelled it without any fuss. They did ask me if I wanted a $200 increase for a charge of $19.95... psh yeah no. Then they said they could give me the increase for free and lower my apr for 6 months to 15%... yeah no, I almost took it but then I remembered the annual fee. So I told them no and they said ok and now my hands are clean. Feels like a weight has been lifted, clear skies ahead  To all the gurus out there, looking at my signature, should I cancel anything else or just leave it as is? Thanks for any help.

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Congrats!  Definitely feels good to close Credit One.  

[coldnmn]

IMHO I would close the Cap1 secured card it wont unsecure and any with an annual fee unless it would hurt your utilization. Congrats on your credit journey.

[gdale6]

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@coldnmn wrote:

IMHO I would close the Cap1 secured card it wont unsecure and any with an annual fee unless it would hurt your utilization.

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Agreed, grats on your journey and departure from Credit 1

[One7]

Thanks everyone, it definitely feels good to be done with them. It served its purpose and was time to retire it. Cap 1 will be gone soon too, Im not the biggest fan of the card because of the fact that it doesnt unsecure, and although it has helped me I wish I would have used a different secured card that did unsecure like my BofA card did and my US Bank card will in the next couple weeks (hopefully anyway). But Ive already paid the AF for the second year so Im going to go ahead and keep it until the last week before the AF hits again, so I'll be hanging on to the Cap 1 until February of next year. 

[coldnmn]

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@One7 wrote:

Thanks everyone, it definitely feels good to be done with them. It served its purpose and was time to retire it. Cap 1 will be gone soon too, Im not the biggest fan of the card because of the fact that it doesnt unsecure, and although it has helped me I wish I would have used a different secured card that did unsecure like my BofA card did and my US Bank card will in the next couple weeks (hopefully anyway). But Ive already paid the AF for the second year so Im going to go ahead and keep it until the last week before the AF hits again, so I'll be hanging on to the Cap 1 until February of next year. 

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If it's less then 30 days they have to refund the annual fee.

[One7]

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@coldnmn wrote:

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@One7 wrote:

Thanks everyone, it definitely feels good to be done with them. It served its purpose and was time to retire it. Cap 1 will be gone soon too, Im not the biggest fan of the card because of the fact that it doesnt unsecure, and although it has helped me I wish I would have used a different secured card that did unsecure like my BofA card did and my US Bank card will in the next couple weeks (hopefully anyway). But Ive already paid the AF for the second year so Im going to go ahead and keep it until the last week before the AF hits again, so I'll be hanging on to the Cap 1 until February of next year. 

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If it's less then 30 days they have to refund the annual fee.

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Good to know, thank you. I want to get the full 24 months of reporting before I axe it.

[byrdlady]

No more credit cards, Jude garden

[One7]

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@byrdlady wrote:

No more credit cards, Jude garden

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+1 lol I only want one other card and that's an Amex charge card (amex doesn't want to give me one) so I'll be gardening for a year until they finally cave in

[alvon123]

congrats!!!!!