Should I close my secured card and get my money back?

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forrestst
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Should I close my secured card and get my money back?

Postby forrestst » Wed Nov 09, 2016 12:35 am

I've had my secured visa card with First National Bank of Omaha for a year now. I was supposed to get a CLI without an additional deposit after 7 months but that didn't happen. It was supposed to graduate to a platinum card after 11 months but that didn't happen. I used my card for small purchases every month and always paid on time but that hasn't helped. When I called they said my credit score was too low for graduation, they show me my FICO 8 score each month and last month it was 633. It went up from 617 to 635 then the month after I opened my Capital One card it went down to 633. They pull my score on the 8th or 9th of the month but it never updates until around the 20th.

I thought about opening a savings account with them or something to see if that helps but I'm not too excited about having a platinum card with no rewards from them. Right now I'm not sure what I should do, close my card and get my money back, let it ride for another year and see what happens or open an account with them to see if that helps.

I kind of wanted to switch banks or at least start an account at a different bank, but I was going to wait until I qualified for a credit card and open an account with a local bank that has credit cards.


Stros05
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Re: Should I close my secured card and get my money back?

Postby Stros05 » Wed Nov 09, 2016 9:48 am

You should consider the Capital One Serured card. You can find it on this page. content/secured-credit-cards-rebuild-credit-22/ It will help your credit score. As your credit improves, CapOne can move you up to better products. Also, CapOne has many branch locations.



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