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CREDIT ONE CLOSED. What's next?

heyjustiin
New Member

CREDIT ONE CLOSED. What's next?

I have been delaying FOREVER to close this card because I had it for 2 years and perfect payment. This card and DISCOVER IT were two of my rebuilding cards for the past 2 years. A year later it was a perfect timing to expand my credit profile so I went for

 

AMEX BLUE CASH EVERYDAY - $8,000 (currently use for groceries etc)

CHASE FREEDOM UNLIMITED - $4,000 (currently use for Lyft etc)

CAPITALONE QUICKSILVER - $6,100 (currently use for traveling etc)

Disover It is also at $3,500 (for whatever)

which totals my credit to $26,000 which I'd like it higher lol

 

I have no collections, 3 inquiries (will fall over a year later)

Unsecured Loan from Affirm which I paid off just so I can have a credit mix

2 Closed Account from Credit One & Chase Slate (closed 3 years ago cause I didn't have enough credit history)

 

EXPERIAN - 734 dropped 23 pts

EQUIFAX - 742 dropped 22

TRANSUNION - 749 dropped 12

 

NO LATE PAYMENTS, ALL ACCOUNTS IN HEALTHY STANDING!!!

 

Guessing the drops are from Credit One closing and all accounts are reported 0. Tomorrow Discover will report 1...I know AZEO method lol so I will definitely get a nice little bump tomorrow!!

So what's next? Should I apply for another card? I'm in good standing and proud of where I am so give me advice and tips guys Smiley Happy

Message 1 of 12
11 REPLIES 11
corpcrmgr
Valued Contributor

Re: CREDIT ONE CLOSED. What's next?

Congratulations! You're doing great!!

Message 2 of 12
Iusedtolurk
Established Contributor

Re: CREDIT ONE CLOSED. What's next?


@heyjustiin wrote:

I have been delaying FOREVER to close this card because I had it for 2 years and perfect payment. This card and DISCOVER IT were two of my rebuilding cards for the past 2 years. A year later it was a perfect timing to expand my credit profile so I went for

 

AMEX BLUE CASH EVERYDAY - $8,000 (currently use for groceries etc)

CHASE FREEDOM UNLIMITED - $4,000 (currently use for Lyft etc)

CAPITALONE QUICKSILVER - $6,100 (currently use for traveling etc)

Disover It is also at $3,500 (for whatever)

which totals my credit to $26,000 which I'd like it higher lol

 

I have no collections, 3 inquiries (will fall over a year later)

Unsecured Loan from Affirm which I paid off just so I can have a credit mix

2 Closed Account from Credit One & Chase Slate (closed 3 years ago cause I didn't have enough credit history)

 

EXPERIAN - 734 dropped 23 pts

EQUIFAX - 742 dropped 22

TRANSUNION - 749 dropped 12

 

NO LATE PAYMENTS, ALL ACCOUNTS IN HEALTHY STANDING!!!

 

Guessing the drops are from Credit One closing and all accounts are reported 0. Tomorrow Discover will report 1...I know AZEO method lol so I will definitely get a nice little bump tomorrow!!

So what's next? Should I apply for another card? I'm in good standing and proud of where I am so give me advice and tips guys Smiley Happy


Congrats on your achievements so far! Real nice scores. If like you said you want to increase your cl another card wouldn't hurt if cli is not available on present cards.

 

Out of curiosity did Creditone offer you anything to keep the account open? (They usually have been known to do that).

Message 3 of 12
blindambition
Community Leader
Senior Contributor

Re: CREDIT ONE CLOSED. What's next?

Congrats! I'd suggest kicking back in the garden. Let your newer accounts age some. Gain back some points.

Message 4 of 12
Overmedicated
Community Leader
Valued Contributor

Re: CREDIT ONE CLOSED. What's next?


@heyjustiin wrote:

I have been delaying FOREVER to close this card because I had it for 2 years and perfect payment. This card and DISCOVER IT were two of my rebuilding cards for the past 2 years. A year later it was a perfect timing to expand my credit profile so I went for

 

AMEX BLUE CASH EVERYDAY - $8,000 (currently use for groceries etc)

CHASE FREEDOM UNLIMITED - $4,000 (currently use for Lyft etc)

CAPITALONE QUICKSILVER - $6,100 (currently use for traveling etc)

Disover It is also at $3,500 (for whatever)

which totals my credit to $26,000 which I'd like it higher lol

 

I have no collections, 3 inquiries (will fall over a year later)

Unsecured Loan from Affirm which I paid off just so I can have a credit mix

2 Closed Account from Credit One & Chase Slate (closed 3 years ago cause I didn't have enough credit history)

 

EXPERIAN - 734 dropped 23 pts

EQUIFAX - 742 dropped 22

TRANSUNION - 749 dropped 12

 

NO LATE PAYMENTS, ALL ACCOUNTS IN HEALTHY STANDING!!!

 

Guessing the drops are from Credit One closing and all accounts are reported 0. Tomorrow Discover will report 1...I know AZEO method lol so I will definitely get a nice little bump tomorrow!!

So what's next? Should I apply for another card? I'm in good standing and proud of where I am so give me advice and tips guys Smiley Happy


With the info you provided, closing the Credit One shouldn't have any immediate impact on your scores.  You'll certainly gain points back when all of your accounts are not reporting 0.  Let us know the results when the Discover reports a balance.

FICO 8
Message 5 of 12
heyjustiin
New Member

Re: CREDIT ONE CLOSED. What's next?

Yes. They have when I wanted to closed the account in the past. They would extend the fee for 3 months. That's about it. This time when I called the lady didn't offered anything which was good. Everything just went straight to the point lol

 

I can also confirmed that I gained my lost points back when Disover got reported haha. All seems well so far.

I'll like just one more card. JUST ONE lol but I mean 4 is good but mmm maybe idk haha

Message 6 of 12
gingerflower
Valued Contributor

Re: CREDIT ONE CLOSED. What's next?

@heyjustiin 

Congratulations your doing an excellent job with your credit building!!

Message 7 of 12
heyjustiin
New Member

Re: CREDIT ONE CLOSED. What's next?

Thanks. Also hit the increase button on discover...it said $300. I accepted..then call to double dipped...she said $700 so of course I accepted!!

 

Discover is now $3500 to $4500...I ased for that $500 extra increased if possible but she said sorry haha

Message 8 of 12
AllZero
Mega Contributor

Re: CREDIT ONE CLOSED. What's next?


@heyjustiin wrote:

Thanks. Also hit the increase button on discover...it said $300. I accepted..then call to double dipped...she said $700 so of course I accepted!!

 

Discover is now $3500 to $4500...I ased for that $500 extra increased if possible but she said sorry haha


Congratulations on your double dip CLI!

Message 9 of 12
Mr_Mojo_Risin
Senior Contributor

Re: CREDIT ONE CLOSED. What's next?

Oooh nice!  Little double dip action, I'm diggin it. Nicely done!

NFCU More Rewards 28K CL
AODFCU Visa Signature 5K CL
Citi Custom Cash 4.5K
NFCU Cash Rewards 8K
Discover IT 2K
Cap 1 600
NFCU auto loan
Message 10 of 12
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