Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
JookDo

0 Contributions
0 People Helped
Can I close my A-MONTH-OLD secured credit card?
It's little weird situation.

Last month, I applied for chase freedom with no credit karma history and denied.

Actually I had a car loan but didn't update the social security number on it, updated after denial.

And I applied for B of A secured credit card with $500 deposit, approved.

The problem is that, the car loan successfully updated and now I can see my credit

score 740 with credit karma..

So I applied for chase sapphire and approved with $5000 limit......

Now I want to get back my $500 deposit.

Can I close my secured credit card? or can i upgrade it to unsecured credit card without

hard inquiry? Will it affect to my credit score if I close ?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1756 Contributions
3019 People Helped

Yes you can Close your Secure Credit Card,  before you do ask them how long it will take to get your money back.  It does not come back as fast as they take it.

Most Secured credit Cards can not be upgraded to a unsecured Credit card.  That is another question for BoA when you are talking to them.  

And Yes you will take a hit on your Credit Score if/when you Close it.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.