Time to cancel Credit One

[Anonymous]

It's now been a year since I had credit one (July '18) They just recently charged me $8.25 which I believe is the AF bill for each month till next year. 

Should I pay off this AF now and call them to cancel it before the next charge or just call now and cancel which I feel afraid to and don't want that $8.25 be locked and can't pay it off?

Also if I cancel them will I get a drop in my score? Could possibly be a small ding....

I am sure this close off card will stay on my file for 7-10 years.

[Anonymous]

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@Anonymous wrote:

It's now been a year since I had credit one (July '18) They just recently charged me $8.25 which I believe is the AF bill for each month till next year. 

Should I pay off this AF now and call them to cancel it before the next charge or just call now and cancel which I feel afraid to and don't want that $8.25 be locked and can't pay it off?

Also if I cancel them will I get a drop in my score? Could possibly be a small ding....

I am sure this close off card will stay on my file for 7-10 years.

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Don't cancel Credit One until you have replaced it wilth a better card. The best time to apply for credit is when you don't need it.

[pinkandgrey]

Call and ask them how they want it done. Sometimes if you close a card shortly after the fee hits, the lender will refund it anyway. If you don’t want to have to call, then just pay it and then close once your payment posts. Good luck and congrats on getting rid of Credit One! 

[Anonymous]

oh I do lol

Discover card secured that unsecured to $1500

American Express Blue Cash Everyday $2000

Chase Freedom Unlimited $4000

Im on the right road xD

[KJinNC]

I would pay, verify balance is zero, then cancel, personally. The eight bucks is worth not worrying about whether they do something wrong. JMO.

[BallBounces]

The OP is exactly why I recommend people that are sure they are cancelling AF rebuilder cards do so a couple months before the AF is presumed to be due.

Cost/benefit analysis makes it a know brainer.

[AverageJoesCredit]

You have 3 great , sufficient cc , you no longer need Credit Uno.

[Anonymous]

Getting to cancel a bad card you no longer need is a great feeling.