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Time to cancel my OpenSky secured?

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Anonymous
Not applicable

Time to cancel my OpenSky secured?

Thank you to everyone on the forum. I opened this card 6 months ago with a 598 credit score and it was my first card. Since then I have opened B of A Cash Rewards Secured $300, Capital One Quicksiliver $500, and just yesterday Amex Everyday $500 and Disocver It $2,500. This is barely going to have an effect on my age of accounts at all. It never unsecures. And the limit is tiny. Can anyone see any reason not to cancel my OpenSky secured at this point? Than you for any help you can provide.

Message 1 of 12
11 REPLIES 11
AverageJoesCredit
Legendary Contributor

Re: Time to cancel my OpenSky secured?

Beside a kind of cool sounding name Smiley Wink , nope., you are a go on a nice build up to your profile with Boa Cap1 Amex and Disco.
Message 2 of 12
601flyguy
Established Contributor

Re: Time to cancel my OpenSky secured?

I have the same card, it was the first I got when rebuilding. I say keep it at least a year to get the full benefits from it. They are good for reporting good payment history even if the card isn't used.
2019 Spend Summary
$944,008 Amex BRG
$91,953 Amex SC
$58,351 Discover It
$50,046 BofA CR
$36,146 Amex PRG
$6,774 Cap1 QS
$963 Amex CM

$1,188,241 Yearly Spend
Message 3 of 12
601flyguy
Established Contributor

Re: Time to cancel my OpenSky secured?

Well well... Here's a reason. I just received an email from them saying

You did it! I'm happy to let you know that you've been specially selected for a $100 credit line increase - no extra security deposit is required.

2019 Spend Summary
$944,008 Amex BRG
$91,953 Amex SC
$58,351 Discover It
$50,046 BofA CR
$36,146 Amex PRG
$6,774 Cap1 QS
$963 Amex CM

$1,188,241 Yearly Spend
Message 4 of 12
AverageJoesCredit
Legendary Contributor

Re: Time to cancel my OpenSky secured?

"Now aint that special! " Smiley Wink - the ChurchLady ( DG) Smiley Happy
Message 5 of 12
Anonymous
Not applicable

Re: Time to cancel my OpenSky secured?

I got the same e-mail from Open Sky too.
Message 6 of 12
Anonymous
Not applicable

Re: Time to cancel my OpenSky secured?

That's interesting. I didn't know they gave increases. 

Message 7 of 12
AverageJoesCredit
Legendary Contributor

Re: Time to cancel my OpenSky secured?

I dont think you do, you have to be "$pecially selected"Smiley Wink
Message 8 of 12
601flyguy
Established Contributor

Re: Time to cancel my OpenSky secured?

Lmao, I didn't even catch that but I swear that's exactly what it says! I copied and pasted. Smiley LOL

2019 Spend Summary
$944,008 Amex BRG
$91,953 Amex SC
$58,351 Discover It
$50,046 BofA CR
$36,146 Amex PRG
$6,774 Cap1 QS
$963 Amex CM

$1,188,241 Yearly Spend
Message 9 of 12
Anonymous
Not applicable

Re: Time to cancel my OpenSky secured?

Just curious... why would you app for a card that doesn't unsecure? I assumed this was the point of secured card.... to prove yourself to a bank so one day you could have a regular account.
Message 10 of 12
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