- 8,634
- 1,487
How does one go about closing a credit card? I always hear it affects credit badly but I dont want to have this annual fee card anymore.
24 Looking to build Credit... What are some good tips on your first Credit Card
- Thread in 'General' Thread starter Started by trynafeelmink,
- Start date
- 14,998
- 4,264
LOL SHEESH literally 1 min after I posted this I log in and just click increase CLI for hell of it and they increased it by 5k
- 8,748
- 7,521
If it's not your oldest card you'll be fine.
Call customer service, they'll try to enroll you in another card, just tell them you are closing the card.
- 16,543
- 7,757
Damn, we all flourishing.LOL SHEESH literally 1 min after I posted this I log in and just click increase CLI for hell of it and they increased it by 5k
- 4,758
- 1,409
LOL SHEESH literally 1 min after I posted this I log in and just click increase CLI for hell of it and they increased it by 5k
It's either instantly approved or they give you the 3-5 day notice. If you get the 3-5 day notice call them and tell them you want to cancel your credit limit increase request.
Request is cancel no hard pull done.
- 8,634
- 1,487
its my oldest card. will closing it be a big detriment?
lightweight champion
Banned
- 13,481
- 5,271
Yes it will be detrimental. Think of your credit like a photo album. Your oldest credit card are like your older pictures. Some you like, some you don't like. Some with good times, others make you depressed. But closing your oldest card is like trashing your oldest pictures. If you do that you're erasing your history. Your history is just as important as your FICO score itself. Lenders can tell how responsible you are by looking at your credit. Conversely, it would also raise eyebrows to a lender to see if an applicant has a 750 fico but limited history. In short, keep your oldest card.
- 3,667
- 2,457
2 day message isn't a hard pull they will contact you if they need a hard pull and ask you if you want them to go trough with it. I've been requesting increases every 30 days and got the 2 day message 3 times and no hard pull.
It won't because closed credit accounts still stay on your report for 10 years. They will still be factored into your average age of accounts and by the time 10 years rolls around you should have other cards that have aged to 10+ years. As long as your utilization won't be affected majorly you'll be fine.
- 2,195
- 431
I have been scrolling through the thread around pages 105-112 or so and gained valuable info there, I have some questions specifically concerning me.
1. I'm a rising senior in college, and I'm looking for the best card for me. The Discover IT Student card seems to be the best one for me, but I still want to apply for other cards should I get declined (If anyone can be used as a referral please PM me). I have an internship this summer, but idk if that's a good enough income for something really good.
2. If I apply for multple cards, is that a bad thing? Like, I can't simply test the waters, because it'll look like I have bad credit or something? That's what I was inferring from some of the discussion on here.
3. Will my student loans negatively affect me even tho I haven't graduated yet? Compared to a lot of people, I'm only lightly in debt, and as such I should be able to pay them off by the time I'm 30 at the very latest.
Appreciate the info fellas.
1. I'm a rising senior in college, and I'm looking for the best card for me. The Discover IT Student card seems to be the best one for me, but I still want to apply for other cards should I get declined (If anyone can be used as a referral please PM me). I have an internship this summer, but idk if that's a good enough income for something really good.
2. If I apply for multple cards, is that a bad thing? Like, I can't simply test the waters, because it'll look like I have bad credit or something? That's what I was inferring from some of the discussion on here.
3. Will my student loans negatively affect me even tho I haven't graduated yet? Compared to a lot of people, I'm only lightly in debt, and as such I should be able to pay them off by the time I'm 30 at the very latest.
Appreciate the info fellas.
- 2,060
- 2,525
^^
1. Discover IT seems to be the best bet for someone in your position. Unfortunately, I don't have any referrals because I don't have the card, but I'm sure someone can send you one.
2. Bad idea. This article answers your question about applying for multiple cards more thoroughly: https://www.nerdwallet.com/blog/finance/multiple-credit-card-applications-hurt-credit-score/
3. No, student loans won't affect you negatively enough to hurt you. I too am also in school w/ loans and my CScore has only dipped slightly.
1. Discover IT seems to be the best bet for someone in your position. Unfortunately, I don't have any referrals because I don't have the card, but I'm sure someone can send you one.
2. Bad idea. This article answers your question about applying for multiple cards more thoroughly: https://www.nerdwallet.com/blog/finance/multiple-credit-card-applications-hurt-credit-score/
3. No, student loans won't affect you negatively enough to hurt you. I too am also in school w/ loans and my CScore has only dipped slightly.
- 3,667
- 2,457
1. Try for the discover IT I think there was another NTer that got approved and was in school
2. Yes it can be bad once you get to a certain amount of inquiries. But if you apply to like 5 cards at a time it won't be that bad. It's better to apply for all cards around the same time so that the score drop (around 5 points) from the inquiries don't affect your score because they haven't reported yet.
3. As long as your loans are deferred they shouldn't affect your credit. If they are not make sure you are paying them on time every month because late payments affect your score negatively, and can be tough to get removed.
Hope this helps and if I gave any innacurate info somebody please correct me.
- 4,758
- 1,409
Jon , I've only seen the 3-5 day message for hard pulls. It's been a while since I've seen it though.
- 3,667
- 2,457
Oh that must be a different message then. I've only seen the 2-day message. And the 2-day is soft pulls. Good to know
- 2,195
- 431
Appreciate the advice fellas, hopefully by the end of the day I should be approved for my first credit card! Just have to spend responsibly.
- 2,060
- 2,525
I requested $24K CLI, and instead AMEX counter offered with $20K.
Slightly disappointed.
Slightly disappointed.
- 16,543
- 7,757
Brother just sent me this link -- free Experian credit score via Discover:
http://slickdeals.net/f/8762651-free-fico-score-provided-by-discover-open-to-everyone
http://slickdeals.net/f/8762651-free-fico-score-provided-by-discover-open-to-everyone
- 8,634
- 1,487
Both of these make sense...hm. Since the annual fee just hit, and I'm gonna attempt to have it waived anyway, I guess maybe I'll hold off till around the same time next year to cancel.
- 3,667
- 2,457
Nice. I wonder how long they're going to do this
- 16,543
- 7,757
I'm salty that Experian gave me this:
- 2,195
- 431
Tried to apply for a Discover IT card, it said I wasn't approved because of Collection. What does that mean, and where do I go from here?
Edit: I'm sitting over here thinking I have no credit history, they're telling me I have a credit score of 609
what's the name of the website I can use to get to the bottom of this?
Edit: I'm sitting over here thinking I have no credit history, they're telling me I have a credit score of 609
Last edited:
- 8,634
- 1,487
you have an account in collection, as in an unpaid debt of some sort. a bill, student loan, etc. Check your credit report and find out what it is.
- 3,667
- 2,457
Tried to apply for a Discover IT card, it said I wasn't approved because of Collection. What does that mean, and where do I go from here?
Edit: I'm sitting over here thinking I have no credit history, they're telling me I have a credit score of 609:x what's the name of the website I can use to get to the bottom of this?
Annualcreditreport.com will give you your credit report from all 3 bureaus. From there, figure out what the collection is and if it's your debt try to contact the creditor and negotiate a pay for delete. If it's not yours dispute it
- 3,667
- 2,457
Why? That's a good credit score.
- 16,543
- 7,757
- 5,233
- 2,323
With utilization does it count per card or all of them combined? Say i have a card for $1k and max it out and my other card is $5k with full availability, would i still count as under 30%?
