OpenSky Account Closed

[Boribori]

Well after debating back and forth in my head about what to do I finally closed my OpenSky visa account. I had the account open for almost 3 years. It did an amazing job helping me rebuild my credit and reporting to all 3 bureaus. I don't consider them predator at all just sub prime. I only paid the AF of $35 one time and that was it fee wise for the almost 3 years I had the account. After the first year I went to cancel the card they waived the AF and the other year after that. I only kept it open to help my payment history and age of accounts. They even offered to waive the AF again when I called them again today. The fact that they dont run your credit to open the account and report to all 3 bureaus for $35 isnt terrible for some people who cant go to disco secured or any other secured cards. They have the ability to be a better product for sure by adding at least 1% Cb and/or no AF. But I get it. they make theyre money off the AF and other fees. They're not a massive bank like chase BoA etc. It's cool though. It was bittersweet but I have so many better cards now. It was time. 

[_ptatohed]

I would have maybe kept it, so long as they waive the AF.  But I am glad it worked well for you and you have moved on to bigger and better.  Congrats.    

[Boribori]

@_ptatohed Yeah, I could have but I didn't need them holding my security deposit any longer. I believe it was long overdue. I just have too many card with No AFs that give me significantly better rewards. Like you said I could have definitely kept it open but I just didn't really see a point. It did its job well and thats it. Time to keep moving on to better pastures. 

[_ptatohed]

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@Boribori wrote:

@_ptatohed Yeah, I could have but I didn't need them holding my security deposit any longer. I believe it was long overdue. I just have too many card with No AFs that give me significantly better rewards. Like you said I could have definitely kept it open but I just didn't really see a point. It did its job well and thats it. Time to keep moving on to better pastures. 

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Makes sense Bor.  Good for you!     

[FireMedic1]

Thats what rebuild cards are for. Build the foundation to move on to better things. Congrats. Least you didnt trash them like some do once closed.

[Yasselife]

Thanks for sharing @Boribori 

[keekers556]

OpenSky definitely serves a purpose and for that I salute them. On to the next stage for you. Cheers.

[Anonymalous]

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@Boribori wrote:

Well after debating back and forth in my head about what to do I finally closed my OpenSky visa account. I had the account open for almost 3 years. It did an amazing job helping me rebuild my credit and reporting to all 3 bureaus. I don't consider them predator at all just sub prime. I only paid the AF of $35 one time and that was it fee wise for the almost 3 years I had the account. After the first year I went to cancel the card they waived the AF and the other year after that. I only kept it open to help my payment history and age of accounts. They even offered to waive the AF again when I called them again today. The fact that they dont run your credit to open the account and report to all 3 bureaus for $35 isnt terrible for some people who cant go to disco secured or any other secured cards. They have the ability to be a better product for sure by adding at least 1% Cb and/or no AF. But I get it. they make theyre money off the AF and other fees. They're not a massive bank like chase BoA etc. It's cool though. It was bittersweet but I have so many better cards now. It was time. 

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Sounds like they're one of the better subprime banks, and you used them well. Congratulations on not needing them anymore!

[OmarGB9]

Congrats!

[NoMoreE46]

Cheers to that!  Time to update your signature. 

Hopefully you will get some CLI on your Capital One cards shortly...