Should I close Capital one?

Discussion in 'Credit Talk' started by roni, Jan 22, 2001.

  1. roni

    roni Well-Known Member

    they make me sick. I am tired of the ugly green marble card which I dont use. I am also tired of sending out checks to them every month for the 2 accounts I have. I wanted to wait until feb and combine them. But they just make me sick at not reporting limits- the sneaky cockroaches. One account is for $2K and the other is for $400. I have had the $400 account since 11/99. I have had the $2K account since 8/00. My providian is up to $2,800 since 5/00. I have Chase $2K, Citibank (of course) x2 $9K each, ((I got my little gold check card from Chase also just for fun)). I also am tossing Orchard $400 & First Premier in March. What should I do???Boohoo..

    roni
     
  2. river

    river Well-Known Member

    RE: Should I close Capital one

    With Citibank alone and Chase to follow, I would do what would be in in your best interest as far as "establish tradelines". I would keep both til Feburary(just around corner) and combine to one and then you will have just one high limit card instead of one high (2k) and one low(400).Then get rid of Orchard.Then you won't have any "low limit" cards.Then mantain,mantain,mantain.After you establish another prime card,then get rid of ALL sub-prime cards.You are just about at the top of the ladder,I'm still on bottom step,ploddin along,waitin for my day to come.
     
  3. creditwork

    creditwork Well-Known Member

    RE: Should I close Capital one

    In my opinion, close the $400 and exercise the 2k to make it grow. If they don't increase your limit or lower your rates, then close it.

    http://www.creditsense.com
     
  4. Thomas

    Thomas Guest

    RE: Should I close Capital one

    I would keep the oldest account. I made the mistake of keeping my new prime cards and closing all of the older subprime cards. This affected my score negatively by not having older revolving accounts.
     
  5. Alwilda Sm

    Alwilda Sm Guest

    RE: Should I close Capital one

    The day I told Cap1 to "stick it" was one of my best days of Y2K. Someting that I'll probably tell the grandchildren about one day!

    -Alwilda Smith
     
  6. roni

    roni Well-Known Member

    RE: Should I close Capital one

    that reasoning is the only reason that I am sticking with them. UGH. But, I only have less than $100 charged on my $2k card and $10 charged on my $400 card. That is just to be mean. I dont use the cards ever. I paid down whatever balances I had

    roni
     
  7. Cadillac408

    Cadillac408 Well-Known Member

    RE: Should I close Capital one

    My advice is to CHOP the $2k limit card and keep the $400 card (since it's your oldest). Why even care about them when you have Citibank and Chase? All Capital One is doing is taking up space in your wallet and costing you annual fees! Screw that...just keep the $400 one and charge on it sparingly to keep the trade!

    Oh...and FYI.....my friend's boyfriend got Capital One ($300) and they CLOSED HIS ACCOUNT for non-usage! He use it once and paid off. Then never used.
     
  8. roni

    roni Well-Known Member

    RE: Should I close Capital one

    they suck. I just may close the $2000 account. I have just 1 month to combine. If they give me any trouble with combining, I am out.

    roni
     
  9. Cadillac408

    Cadillac408 Well-Known Member

    RE: Should I close Capital one

    But what happens if you combine and they don't use the oldest date of 11/99 and instead use 8/00? Then what?
     
  10. roni

    roni Well-Known Member

    RE: Should I close Capital one

    I dont know girl. I was just thinking that. I am gonna call them tomorrow and see what they say. If they dont say what i like, girl it is gonna be on. the $2k account is gone. I hate them...
    roni
     
  11. sam

    sam Well-Known Member

    RE: Should I close Capital one

    Nuke it :) you have more than enough credit from our citi friends etc.. Cap 1 cards are ugly. Even the gold card is ugly. I mean does it really have to say "GOLD" on it big letters. Like gold actually means anything any more :)

    I still think it looks better to see "Account closed by consumer" and 0 balance. :)
     
  12. roni

    roni Well-Known Member

    RE: Should I close Capital one

    Yes, but some people say that closing the oldest account may cause a big drop in my credit score. But then again, I dont need a good score for quite a while. I will not be buying a house until I am more settled in my career. I am still not sure which state I will set up shop. But as far as CApital ONe goes, you are right. The cards are ugly. I have the marble green and the card with the red rose on it. Both are ugly. I saw the gold card once and it is kinda ugly. If I want to use gold, I have my Citigold and my Chase gold bank card (dont look too close).

    roni
     
  13. heather

    heather Well-Known Member

    RE: Should I close Capital one

    If you don't use it I would close it unless you want to keep it for a rainy day simply because the account will still show as open on your credit report which shows you have this amont revolving which will lower your credit score soooooo if you apply for another card in the future or even a credit line increase you could be declined because of this card. They will take into consideration that you already have an account accessible to you.
     
  14. Cadillac408

    Cadillac408 Well-Known Member

    RE: Should I close Capital one

    Good point?!?!
     

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