Hey Lesteraw, I too had a Credit One Bank card and back during my credit card rookie years, I had no idea how low this credit card rated. Check out this Graham Stephan vid...https://www.youtube.com/watch?v=J78ARAx-1Gk
My horror story: Attempted to close in March eventhough I'd lose credit history and didn't confirm! My mistake cause I didn't keep my attention on it. They kept it open for 2 months and hit me with annual fee and 60 day late fees. Finally, closed it with confirmation and what happens next? Credit score dropped about 60 points and credit companies now have delinquent accounts on file. STILL trying to dispute the actual closing on my terms. BTW...I had a balance of $50+ and they kindly waived the annual fee...So nice of freakin Credit One Bank!
I've researched closing credit card accounts and from what I gather...DON'T, but if you absolutely have to then pay the balance low or completely off and just lock it in a safe. Make sure you can autopay cause they love to charge up unused credit cards. Eventually, the company will close out the account, supposedly. Any vets in here will school us further... Good luck!!!
I think you've got plenty to work with, so you can go ahead and close it. Just be sure it's paid to zero and you get a letter confirming it's been closed. And check on it a month after it's been closed to be sure there isn't any trailing interest charges that still need to be paid.
On a side note. No more apps. You got way ahead of yourself with all those new accounts this year. I wouldnt apply for another card until 2021. They all have to cool down and let them start to recover and your scores will follow with them. Good Luck! Bye C1!
