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
rharada89

0 Contributions
0 People Helped
I just recently opened a card with Comentiy (Virgin America) but I don't like them.
Would it be bad to close this account and sign up for a Chase Sapphire instead? I don't like how Comenity doesn't show pending charges and doesn't update anything until 3 days later, payments also take three days to process. After signing up with Comenity my credit score increased, but I don't want to hurt my score closing the account. Comenity also charges an annual fee of $49, whereas Sapphire is free.

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

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-3 of 3Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1884 Contributions
3677 People Helped

opening and closing accounts can hurt...

But if you don't need to apply for any new credit right away it shouldn't make to big of a differance,  You may see your score take a dip for a couple of months.  Lenders don't like seeing you open and close accounts though,  It's estimated that opening a new account cost the lenders about $100 to process, pull your scores, and open the account. So Don't be surprised if you are not able to open any new accounts right away. I suggest that you open the new account prior to closing the one you want you get rid of.  

Good luck

Top Contributor
3051 Contributions
2791 People Helped

Don't close the Comenity card (unless or until they charge you annual fee), just don't use it.  Cut it up if you want.  That way the good credit will stay on your report.  

1 Contribution
0 People Helped

Do it!

I applied for and received the VA Visa as soon as it was released.  Disaster.  The physical card looks NOTHING like the promotions and the annual fee was charged and billed before I even received the card.  I used it for one month and closed it February 2014.  Hysterically, they sent me a bill this month for the annual fee but with a huge disclosure at the top that "This account is closed but was incorrectly charged an annual fee."   Yeah.  The issuing Bank for the VA Visa, Comenity Capital Bank, is light years behind Chase's online and mobile platform for credit card account access and options.  Its worth the temporary ding on your credit report to apply for the CSP, because you will be MUCH happier in the long run!  I've never had an issue with Chase (I have both the Freedom Visa Sig and the CSP), and yet it was a nightmare with the VA Visa.  GO WITH CSP... MUCH BETTER IN THE LONG RUN!

Results 1-3 of 3Results 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.