I did close it. It was my oldest card, but only oldest by 3 months. My next oldest card, Wells Fargo, was also secured (now graduated), and since I bank with WF and it has at least 1% cash back, I'll keep it.
I started with FNBO at $1000. I had never heard of the bank and was outside of their banking footprint at the time, but I received an invitation in the mail. Quick googling said it was a reputable bank (and it was either them or Credit One).
Sent in the money order (this was 5 years ago and they didn't offer EFT withdrawl), and in about 3 weeks got the card.
Graduated in 12 months. Got a check for $1000 plus interest (not a lot of interest, but not may secured cards offer it at all). Bumped up to $2500 about 6 months after that. At that point though, I had a Quicksilver from Capital One, and my FNBO wasn't getting a lot of use so that may have been part of the "small" CLI.
It wasn't a terrible (unsecured) card but not good either. Around 19% APR. No rewards.
Was going to bite the bullet and cancel it, but saw the Prime Visa post on MyFico. Applied and approved. Called about a week after I got the new card, asked if it was possible to move the limit over.
The Prime Visa has no rewards and a small AF, but in my (perhaps paranoid) mind, it is always good to have a low APR lending option in my back pocket just in case. 5.25% is hard to beat even at CU's.
