- Green Member
- Posts: 14
- Joined: Thu Dec 27, 2012 9:36 pm
- Location: United States
A year ago I posted here inquiring on which secured credit card to go with. After getting denied for a secured cc from Capital One, I applied for a US Bank Harley Davidson secured cc. It was decent considering no annual fee for it, and gives me a free experian score every month. There is one downside to this card that I just relaized, and I'm not sure if this is common between other secured cards but in order for me to get my initial deposit of $300 back, US Bank wants to do a credit check, a hard hit, in order to consider me for an unsecured card and then return my deposit to me.
It has been a year since I had that card so I want my deposit back but I do not want a hard pull on my credit for the same type of card, with interest, minimal rewards only redeemable at Harley Davidson.
So I went ahead and Applied for a Chase Freedom card about 4 days ago, got approved for 4.5k. Waiting on the card to arrive now. The reason I decided to apply for chase was because I bank with them, and had also read that the Chase Freedom card is a pretty good card. Also had a pretty good offer, $100 bucks on $500 spent and 5% revolving categories year round, 0% for 15 months. Great deal for me.
My question is, What should I now do with my secured cc? Should I go ahead and close it out? How will it affect my credit if I do?
My credit score the last time I checked with Credit Karma was about 722. I know it's not a reliable source but we're looking at the score to be somewhere around there.
What do you guys suggest I do?
As of today, I only have two open credit lines on my credit, one from US Bank and one from Chase, I plan to keep this Chase card for the rest of my life and have it as my longest open credit account.