Reasons Why I Cancel or Close Credit Cards

Reasons Why I Cancel or Close Credit Cards

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FINANCIAL DISCLAIMER: I am not a lawyer and I am not a financial advisor! Any advice I give is solely based on MY OWN EXPERIENCE and MY OWN RESEARCH and is my views and opinions for ENTERTAINMENT PURPOSES ONLY! There is no guarantee as there are many variables that will impact your success. Everything stated on my videos and on my channel is for ENTERTAINMENT PURPOSES ONLY and should be taken as OPINON and NOT FINANCIAL ADVICE!

[RadikalMarketer]

⬇️ COMMENT BELOW ⬇️ What are the REASONS YOU CANCEL CREDIT CARDS? // WHAT CREDIT CARDS HAVE YOU CANCELED?

[Jason_The_Man]

“Go where you’re appreciated not where you’re tolerated”! Never heard is phrased that way but DAMN! That is the MOAB!

This applies to credit and life on the whole.

Terminate from your life, what does not serve you.

Great video. I’d never thought of canceling cards with lower limits. What impact does this have.

[mygodisable]

Great video Rad, another video with an interesting topic. I am in the process of getting rid of one of my cards due to low credit amount, no Perks what so ever, low to no customer service, no CLIs, no building relationships, and a crazy annual fee. Rule of thumb it use to be taboo to close an account, but sometimes it makes perfect strategic sense to close an account especially if it doesn't make sense or it makes all the sense to close the account. You'll take a hit, but you'll recover soon. Rad I found this information on point. Keep up the good work. Salute !!! 👍

[anonymous]

I closed about 20 credit cards 7 years ago. I closed them because I frankly didn’t want to monitor cards that I hadn’t used in years. I just wanted to use one card at the time which was my oldest credit card. It did cause a drop about 30 point drop in my score but it rebounded in about 1 year.

[docsays]

Great topic RM! Im with you my man. in 2018 i only had 4 credit cards and 8 store cards (back from my younger days). i cancelled 1 low limit CC and 3 store cards. Now i have 10 credit cards and 5 store cards. All of which im very happy with.

[capricornkeisha]

I’ve closed for annual fees (and thought that would be only reason when clicking on your video). Wow you gave so many more great reasons thanks!

[shamoribattle]

Great job bro! Lost one to non-usage right as I started building. Luckily a newer card with small limit but a BIG lesson. I'm sure this vid will help a lot of folks.

[missveescandles]

I recently canceled a secured capital one platinum that I took out at the Beginning of my credit building journey ($500 limit) I also cancelled a Conns store Card by synchrony ($5000)

[magnumhomeservices]

Hey Rad great video homeboy! Thanks for the data points. Peace out!!!

[dredayb]

Platinum info as always and whoever's not in the Facebook group you missing out its LIT 🔥 over here

[johnb]

Wassup Rad long time since we've last touch basis but as always i appreciate each every last one of your vids!! My question for you is. Whats the best way to cancel a card. should i purchase more tradelines to subsidize the card or just take the temporary hit and apply for something else?

[lorisimmons]

Capital one quicksilver....high interest low credit line 🥺

[mitchellmullins]

I had a secured 1st Premier card. Cancelled it. Customer service was great but wasn`t going anywhere. They basically begged me on the phone not to cancel it. I said you unsecure it, return my money and kick me up a hundred dollars I`ll keep it. We`ll send you something in the mail. I got it, saying for 170-175 dollars we`ll unsecure it and bump you up 100 dollars. I called back, told them this is not what I asked for and canceled the card. Now I`m waiting going into the 3rd week for a check

[israelquintero]

This is really helping me out, I’m building my credit and this helps me not applying to Citi and capital 1 and others

[Lowspeedoperator]

Good video! Macy's store card cxl'd me for non use don't miss them lol. I closed 1st premier back in the day when just getting out of credit trouble

[nagai]

Great content I learned a lot about cards with low limit cards I have a couple that I need to cancel that I've had for a long time and they've never raised the limit and I have big limits on my other cards thanks.

[stanwilliams]

Wassup Rad I love ur content but I had a quick question. I have decent credit already and I started a business I've learned a bit about credit myself and I wanted to help others so my business is about credit consulting but u said never put that as what u do when going for credit so what should I put

[francineford-smith]

Thank you for a insightful video as always!
I definitely agree with you for the capital one venture one card I have yet to get a credit line increase and the city bank diamond preferred card I am continuously told that my utilization is low, however that is my focus, I keep my utilization around 10%. Both accounts are paid off however I’ve made three requests for a line increase and to no avail. So either they will go take up residency in the sock drawer or I will just close them.

[Naz.Man.]

yessir....i canceled capital one quick silver one because they refuse to go up on a bs 400 dollar limit. They are the worst imo

[dasing]

Good tips bro. Comenity closed two cards (50k) of mine, not from use ...too much credit with them I guess. Profile is pretty thick so I didn't bother calling them either. Also didn't affect my score.