Transfer a balance and close Credit One accounts?

[Anonymous]

Hello all! Majority of the people on this site give great advice. Especially when you are on the right track but you need some reassurance. I want to transfer a $750 balance to a lower interest card with a $4,500 CL. It also has a 0 balance. Would it be smart to close the $1300 Credit One Visa after? I’ve had it for 4 years but my overall credit is the complete opposite of what it was 4 years ago. I am currently at 6% utilization out of about $100k total credit. I’m grateful for them giving me a chance but the 2 Credit one cards are the only cards I have with an annual fee and I don’t want them. Overall, not a bank I want to do business with. The fees are ridiculous. The $1500 MC has never been used. Let me know what you think!

[Anonymous]

Think?

Should have been done long ago.  Whatever the BT fee is less than it's costing you to hold onto C1.

[800FICOGoal]

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@Anonymous wrote:
Would it be smart to close the $1300 Credit One Visa after? I’ve had it for 4 years but my overall credit is the complete opposite of what it was 4 years ago. I am currently at 6% utilization out of about $100k total credit. 

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With a 100k in available credit, you obviously have better cards now. There is absolutely no need for that Predator One card. 

[Anonymous]

I agree. Say good riddance to Credit One and the fees. You've moved on to bigger and better things. 

[AverageJoesCredit]

I say close all your cards and keep the two Credit One cards. Your profile will thank you

Just kidding, burn the cards and sing a melody

[Anonymous]

Thank you! I completed the balance transfer this morning and I already feel better. I think I will have to wait for it to fully process before closing. Something is telling me they will find a way for me to have a balance after the $750 is paid. I will just pay it with my checking account and close it out. The $22 for the transfer see is way less than the interest and $99(monthly increments....absolutely ridiculous) for this card. Like I said, I usually have good judgment but it’s always nice to get the backing from experienced card holders. Side note: Cap One just gave my an increase of $3,700 so that makes up for the credit being lost with Credit One! That card is my oldest bank card. SP and instant approval on the mobile app.

[Anonymous]

“Predator One” made me spit a little coffee out lol. Thank you for that!

[Anonymous]

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@Anonymous wrote:
“Predator One” made me spit a little coffee out lol. Thank you for that!

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It made me giggle too lol.

[Anonymous]

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@Anonymous wrote:
Thank you! I completed the balance transfer this morning and I already feel better. I think I will have to wait for it to fully process before closing. Something is telling me they will find a way for me to have a balance after the $750 is paid. I will just pay it with my checking account and close it out. The $22 for the transfer see is way less than the interest and $99(monthly increments....absolutely ridiculous) for this card. Like I said, I usually have good judgment but it’s always nice to get the backing from experienced card holders. Side note: Cap One just gave my an increase of $3,700 so that makes up for the credit being lost with Credit One! That card is my oldest bank card. SP and instant approval on the mobile app.

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Good job. I have a "Predator One" card too and once I started getting serious about my credit (thanks to this forum) I realized how I was screwing my self over with that card (although I was grateful they gave me a $1050 limit). But I am counting down the days until I get a CSP and a Platinum Skymiles and then I'm going to send the Predator One card to the guillotine. I too am incensed by the $99 AF billed monthly (for some reason I never paid attention to it until I discovered this forum).

[sjt]

Jumping on the bandwagon. 

BT AND CLOSE THE CREDIT ONE ACCOUNT!