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It's essentially your least account. However, it's only older than your NFCU card by 7 months. In ten years when your US Bank falls off, it won't matter much. Like you said, it has done it's job. Time to move forward. CLOSE IT!
Yes, it has served its rebuilding purpose BUT while open, it still serves another purpose... an open credit line. I suggest working towards having 3 open credit lines and when you open your 4th credit line, you can close the Capital One Secured and kiss the secured world goodbye once and for all.
The reason is to avoid having a "thin file". Just my 2 cents.
I may be the odd one out. If the NFCU will be the only card after closing the secured card then I suggest you leave it open until you have other cards lined-up.
@Creditplz wrote:
Good morning everyone! And oh no I have a BofA Cash Rewards, Discover, Neiman Marcus, Nordstrom,and now NFCU! Also do I leave a balance on it? I have a $27 balance on it and I know they refund the security deposit into the account anyways, so I'm not sure if I leave it with a Balance of pay it off.
Eh, then close away.... Congrats on the approval.
@Creditplz wrote:
Good morning everyone! And oh no I have a BofA Cash Rewards, Discover, Neiman Marcus, Nordstrom,and now NFCU! Also do I leave a balance on it? I have a $27 balance on it and I know they refund the security deposit into the account anyways, so I'm not sure if I leave it with a Balance of pay it off.
You've got 7 months of history now with US Bank. Have you talked with them about whether you can get a Cash+ card from them? US Bank is a relationship bank. The time you've spent with them, they've been watching your progress and would like to continue to provide you CC. They call me on a regular basis to check in and see if there's anything else I need.
@NRB525 wrote:
@Creditplz wrote:
Good morning everyone! And oh no I have a BofA Cash Rewards, Discover, Neiman Marcus, Nordstrom,and now NFCU! Also do I leave a balance on it? I have a $27 balance on it and I know they refund the security deposit into the account anyways, so I'm not sure if I leave it with a Balance of pay it off.You've got 7 months of history now with US Bank. Have you talked with them about whether you can get a Cash+ card from them? US Bank is a relationship bank. The time you've spent with them, they've been watching your progress and would like to continue to provide you CC. They call me on a regular basis to check in and see if there's anything else I need.
I to believe in relationships with solid financial instituions....too mant times, ppl burn bridges in haste ( the card has DONE, it's job....really? it's been 6 or 7 statements, for Pete's sake) IMO that's like saying well it's been 6-7 months it's TIME to get married 'if' you love me enough....it's NOT that simple and what's the rush?
A few more months and the account will be a year old, who knows internally what that may mean to the 'relationship' with said partner, keeping the bridge open doesn't kill anything and just may lead to other offers or opportunities not known about at this moment....
If it were a ish bank or vendor I might see it differently but with decent organizations, what's the rush they aren't gonna disappear with the litle deposit and 'may' grately reward the loyalty.......these vendors lend, refi offer all types of stuff, so why poke 'em in the eye for no upside, when there 'may' be more goodies to come by.
I can see avoiding a AF, going into a 2nd year if the vendor won't play ball but closing an account under a year for no good reason IMO is ants-in-the-pants silliness, when closing it offers ZERO upside and keeping it may bring about future upside....who knows what 'exclusive' offer may be around the pike, with nothing to lose by cut bait?