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Closing CREDITONE - am I Hurting my credit?

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Valued Member

Closing CREDITONE - am I Hurting my credit?

So I have been with CREDITONE for almost 4 years and at this point I do not like one thing other than increased Utilization they provided with a few CLIs (for a fee). But it did it’s job and now THEY MUST GO! but that’s about 2k of my overall credit. Idk if I should pull the trigger but I pay 9/mo on each account and obviously as mentioned before they charge to up my CL. However Amazon (2500) and Walmart (1500) upped my CL beyond that (4K total) so will that offset things?

The statements already closed and reported on my synchrony cards.. my new CLI did not report this month so that is coming for the April update.





NFCU Auto-$16K

CapitalOne QuickSilver-$500//CapitalOne QuickSilver One-$500
CreditOne M/C-$800//CreditOne Visa-$1150
NFCU MR Amex-$8400//NFCU cashRewards-$2000
DiscoverIt Secured-$200
Amazon-$3500
ChildrensPlace-$970
Express-$500
Fingerhut -$2300
FullBeauty-$250
JessicaLondon-$250
NY&Co-$500
Target Red-$300
USAA Classic Visa Platinum-$500
Victoria Secret-$510
Walmart-$2500



Message 1 of 10
9 REPLIES 9
Valued Member

Re: Closing CREDITONE - am I Hurting my credit?

I wanna close them immediately (like right now ) lol





NFCU Auto-$16K

CapitalOne QuickSilver-$500//CapitalOne QuickSilver One-$500
CreditOne M/C-$800//CreditOne Visa-$1150
NFCU MR Amex-$8400//NFCU cashRewards-$2000
DiscoverIt Secured-$200
Amazon-$3500
ChildrensPlace-$970
Express-$500
Fingerhut -$2300
FullBeauty-$250
JessicaLondon-$250
NY&Co-$500
Target Red-$300
USAA Classic Visa Platinum-$500
Victoria Secret-$510
Walmart-$2500



Message 2 of 10
Established Contributor

Re: Closing CREDITONE - am I Hurting my credit?

Is that your oldest account?

 






Starting Score: 494 503 521
Current Score: 503 507 507 2/19
Goal Score: 680


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Message 3 of 10
Community Leader
Mega Contributor

Re: Closing CREDITONE - am I Hurting my credit?

Without knowing what your aggregate and individual utilization is, it's hard to tell whether there would be any effect on utilization. 

 

With that said, I'd close and burn it with fire.  You're paying fees and wasting money for nothing. It played it's role but now it's time to move on 

 

 

EX 759 EQ 774 TU 753


Message 4 of 10
Valued Member

Re: Closing CREDITONE - am I Hurting my credit?

yes, unfortunately., :-( 






NFCU Auto-$16K

CapitalOne QuickSilver-$500//CapitalOne QuickSilver One-$500
CreditOne M/C-$800//CreditOne Visa-$1150
NFCU MR Amex-$8400//NFCU cashRewards-$2000
DiscoverIt Secured-$200
Amazon-$3500
ChildrensPlace-$970
Express-$500
Fingerhut -$2300
FullBeauty-$250
JessicaLondon-$250
NY&Co-$500
Target Red-$300
USAA Classic Visa Platinum-$500
Victoria Secret-$510
Walmart-$2500



Message 5 of 10
Valued Member

Re: Closing CREDITONE - am I Hurting my credit?

lol I SURE WILL! right after July and August... they offered to credit my account for all the interest over the last 4 months and waive the annual fees until the end of summer. I will close it 10 days before that period ends. I will have +$50.00 to show for it so it seemed worthwhile... but I am done with them after this. 






NFCU Auto-$16K

CapitalOne QuickSilver-$500//CapitalOne QuickSilver One-$500
CreditOne M/C-$800//CreditOne Visa-$1150
NFCU MR Amex-$8400//NFCU cashRewards-$2000
DiscoverIt Secured-$200
Amazon-$3500
ChildrensPlace-$970
Express-$500
Fingerhut -$2300
FullBeauty-$250
JessicaLondon-$250
NY&Co-$500
Target Red-$300
USAA Classic Visa Platinum-$500
Victoria Secret-$510
Walmart-$2500



Message 6 of 10
Valued Member

Re: Closing CREDITONE - am I Hurting my credit?

UTIL is high on one card and with my auto loan included I am at 50% .... i added the amounts to my signature






NFCU Auto-$16K

CapitalOne QuickSilver-$500//CapitalOne QuickSilver One-$500
CreditOne M/C-$800//CreditOne Visa-$1150
NFCU MR Amex-$8400//NFCU cashRewards-$2000
DiscoverIt Secured-$200
Amazon-$3500
ChildrensPlace-$970
Express-$500
Fingerhut -$2300
FullBeauty-$250
JessicaLondon-$250
NY&Co-$500
Target Red-$300
USAA Classic Visa Platinum-$500
Victoria Secret-$510
Walmart-$2500



Message 7 of 10
Valued Member

Re: Closing CREDITONE - am I Hurting my credit?

off topic how do i add the scores and credit limit tag to my signature? 






NFCU Auto-$16K

CapitalOne QuickSilver-$500//CapitalOne QuickSilver One-$500
CreditOne M/C-$800//CreditOne Visa-$1150
NFCU MR Amex-$8400//NFCU cashRewards-$2000
DiscoverIt Secured-$200
Amazon-$3500
ChildrensPlace-$970
Express-$500
Fingerhut -$2300
FullBeauty-$250
JessicaLondon-$250
NY&Co-$500
Target Red-$300
USAA Classic Visa Platinum-$500
Victoria Secret-$510
Walmart-$2500



Message 8 of 10
Community Leader
Mega Contributor

Re: Closing CREDITONE - am I Hurting my credit?

Message 9 of 10
Valued Member

Re: Closing CREDITONE - am I Hurting my credit?

THANKS SO MUCH!!! <3 






NFCU Auto-$16K

CapitalOne QuickSilver-$500//CapitalOne QuickSilver One-$500
CreditOne M/C-$800//CreditOne Visa-$1150
NFCU MR Amex-$8400//NFCU cashRewards-$2000
DiscoverIt Secured-$200
Amazon-$3500
ChildrensPlace-$970
Express-$500
Fingerhut -$2300
FullBeauty-$250
JessicaLondon-$250
NY&Co-$500
Target Red-$300
USAA Classic Visa Platinum-$500
Victoria Secret-$510
Walmart-$2500



Message 10 of 10
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