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I have a BOA credit card that I've had for over 10 years that has a 59 dollar annual fee. I'm wondering if I should keep this card or close it. This is the only card I have that has been open since 2003 other than my Capital One card. Should I keep the card open and contine to pay 4.XX/mo in fees? My question is due to the fact that I'm looking to take on a home loan in the next couple of years. The fee is very little, if closing the card is going to make a big difference in my credit score, but if it's not going to matter, I'd rather save the 4.XX per month.
Other than the BOA card I have the following ....
JC Penny Store Card - Open since 07/2008
Chase Amazon Card - Open since 05/2006
Capital One Card - Open since 11/2003
I would call and see if you can get PC to a card with no fees.
What does PC mean? I don't see a sticky with a glossary of acronyms Sorry for the stupid question.
@tony46231 wrote:What does PC mean? I don't see a sticky with a glossary of acronyms Sorry for the stupid question.
PC= Product Change There are no stupid questions here just help for all
@tony46231 wrote:What does PC mean? I don't see a sticky with a glossary of acronyms Sorry for the stupid question.
It's under helpful threads at the top of the page. Then go to helpful abbreviations.
Thank you for that! Glad to have been pointed in the right direction of that glossary.
Will a PC show up on my credit reports at all? Will my account number change if I do it?
@tony46231 wrote:Thank you for that! Glad to have been pointed in the right direction of that glossary.
Will a PC show up on my credit reports at all? Will my account number change if I do it?
In some cases a PC can result in a new account
Call ask for PC and ask will it be a new account or will it keep the same number
Pretty sure BofA PC's do not change account numbers tho...others will chime in
I asked for them to remove the annual fee on my BoA and they told me they couldn't do it. Instead they changed my card to a Cash Rewards Signature card. I figured I'd keep it until I get the limits on my 4 new cards up and then make another final pitch before closing it, but that will probably be in a year or so.
When they made the change for you to the Cash Rewards Signature card, did it in any way affect your credit report? I don't want to switch products and see that one is closed that I have had for over ten years and a new one opened.
@tony46231 wrote:When they made the change for you to the Cash Rewards Signature card, did it in any way affect your credit report? I don't want to switch products and see that one is closed that I have had for over ten years and a new one opened.
PC's do not affect CR's unless it's a new account