- Green Member
- Posts: 20
- Joined: Mon Mar 28, 2016 7:40 pm
So I am wondering if I should cancel my US Bank Secured card.
So years back I ran up some cards, left them for collections along with medical collections etc. You know, a standard story of a young person being irresponsible. Nevertheless over the last several years I have cleaned things up generally. There are no more active accounts in collections at all. All of my current accounts are in good standing and I haven't had a single missed payment on any of them in, well I can't remember when.
My biggest hurdle right now is high utilization.
I have a Walmart card, Target card, and a BoA Visa, all with about $500 cl's - all with $0 on them. (Only opened them up to help increase the available credit. They are hidden in the SD.)
I have 4 CapOne cards. Through CapOne buying out some other cards I wound up with 4. All of them WERE at around 80-90% util, until this week, when I did online CLIs for all four and all four were given about $750-$1000 additions to their CLs, bringing my utilization on those four cards to 60% ish give or take. (The CapOnes are all at least 4 years old, one is probably 8 years old. Maybe older.)
Now, two years ago I got married and we had $4,500 in cash that we wanted to sock away. So, in an effort to boost my CS, I put that $4,500 behind a US Bank Secured card. Its approaching 2 years, and never missed a payment. BUT - I do have about $4,000 on that card at the moment.
Then also last week I was approved for the Amex PRG.
No car loan currently. No BK ever. Scores around 640 currently.
I called US Bank and asked to go to unsecured, so I could get my $4,500 deposit back.
They denied me in a letter saying it was due to: "Delinquent Credit History on File" with Equifax.
There are OLD delinquents on file yes, but all were PIF and cleared.
So I have half a mind to just say F it, call them and say "Take $4k from my deposit, send me back $500 and close the card."
Loosing the $4,500 cl, but also losing the $4k debt would probably be a wash in terms of impacting my score no?