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FINAL VISA Card Closing ALL Accounts Folks :(

Anonymous
Not applicable

Re: FINAL VISA Card Closing ALL Accounts Folks :(

If your card is paid in full at the time of its closing there will be no negative effects. If you don't have a high credit utilization, then you have nothing to worry about. I have the the Final Visa w/ $5k limit. My total available credit across all my cards is over $100k with a 1% credit utilization. So losing $5k of available credit won't hurt my score. 

 

Other than loss of utilization from having $5k less credit, I don't see how this would hurt your credit if the card is in good standing.

Final Visa hasn't been around for more than a couple of years (plus it will still count towards AAoA for usually 10 years after closing) so that won't be an issue.

 

I closed a $3k Walmart card I never used a couple months ago and my score didn't change. There is nothing different here besides the fact the it is the company closing the credit card and not the customer. 

 

Hope this helps.

Message 11 of 14
Anonymous
Not applicable

Re: FINAL VISA Card Closing ALL Accounts Folks :(


@Anonymous wrote:

If your card is paid in full at the time of its closing there will be no negative effects. If you don't have a high credit utilization, then you have nothing to worry about. I have the the Final Visa w/ $5k limit. My total available credit across all my cards is over $100k with a 1% credit utilization. So losing $5k of available credit won't hurt my score. 

 

Other than loss of utilization from having $5k less credit, I don't see how this would hurt your credit if the card is in good standing.

Final Visa hasn't been around for more than a couple of years (plus it will still count towards AAoA for usually 10 years after closing) so that won't be an issue.

 

I closed a $3k Walmart card I never used a couple months ago and my score didn't change. There is nothing different here besides the fact the it is the company closing the credit card and not the customer. 

 

Hope this helps.


Thanks, the utilization is not a problem.  How do I close a credit card?

Thanks for all the help.

Message 12 of 14
Anonymous
Not applicable

Re: FINAL VISA Card Closing ALL Accounts Folks :(


@Anonymous wrote:

@Anonymous wrote:

If your card is paid in full at the time of its closing there will be no negative effects. If you don't have a high credit utilization, then you have nothing to worry about. I have the the Final Visa w/ $5k limit. My total available credit across all my cards is over $100k with a 1% credit utilization. So losing $5k of available credit won't hurt my score. 

 

Other than loss of utilization from having $5k less credit, I don't see how this would hurt your credit if the card is in good standing.

Final Visa hasn't been around for more than a couple of years (plus it will still count towards AAoA for usually 10 years after closing) so that won't be an issue.

 

I closed a $3k Walmart card I never used a couple months ago and my score didn't change. There is nothing different here besides the fact the it is the company closing the credit card and not the customer. 

 

Hope this helps.


Thanks, the utilization is not a problem.  How do I close a credit card?

Thanks for all the help.


For Final, they have "Banking Hours", so you need to call between 9am - 5pm (PST). I would choose the "Dispute" option in order to connect with a live representative and just tell them you would like to close your account. 

Message 13 of 14
Anonymous
Not applicable

Re: FINAL VISA Card Closing ALL Accounts Folks :(


@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:

If your card is paid in full at the time of its closing there will be no negative effects. If you don't have a high credit utilization, then you have nothing to worry about. I have the the Final Visa w/ $5k limit. My total available credit across all my cards is over $100k with a 1% credit utilization. So losing $5k of available credit won't hurt my score. 

 

Other than loss of utilization from having $5k less credit, I don't see how this would hurt your credit if the card is in good standing.

Final Visa hasn't been around for more than a couple of years (plus it will still count towards AAoA for usually 10 years after closing) so that won't be an issue.

 

I closed a $3k Walmart card I never used a couple months ago and my score didn't change. There is nothing different here besides the fact the it is the company closing the credit card and not the customer. 

 

Hope this helps.


Thanks, the utilization is not a problem.  How do I close a credit card?

Thanks for all the help.


For Final, they have "Banking Hours", so you need to call between 9am - 5pm (PST). I would choose the "Dispute" option in order to connect with a live representative and just tell them you would like to close your account. 


Thanks.  tried calling and pressing Dispute" option but no one is there. It says I have reached them "outside working hours", I called at 10:31 AM CST. Guess they dont want to talk to customers....  Thanks for the info anyway.

Message 14 of 14
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