Credit Card Center Advertiser Disclosure†
06-09-2009 08:33 AM
I have a Merrick Visa with a CL of $1350 and my balance was right at $1000. I surfed the balance to my new Discover with a CL of $7000.
I want to close Merrick because the annual fee is $60 and the APR is a ridiculous 25.95%. My balane is now zero with them. I just do not need a high interest card anymore, my fico is plenty high to get any high credit limit card I need.
I just need to know....what is the correct procedure for closing this account? Do I call them, or write to them, or what? I don't think I have ever been in a position to voluntarily close a card down myself before. Any help or advice would be welcomed. Thanks.
06-09-2009 08:51 AM - edited 06-09-2009 08:52 AM
Is this your oldest card? Do you need the history? It will still show on your report so just call them up and close it but make sure balance is zero. I have their card and don't use it much but when I do I pif.
I have no fees however.
06-09-2009 09:00 AM
06-09-2009 09:57 AM
No, I have plenty of older accounts, so I don't need it for that.
Does anyone think if I call CS they will cancel the annual fee? If they would stop that AF I would keep the account open. I really don't care about the APR because I won't be using the card anyway. And if I did, I'd be paying in full at the end of the month. I just want that AF to go away.
06-09-2009 10:25 AM
they might but if you have plenty of accts why do you need one with a/f? Like I said they never charged me a fee.but I guess my cl is maxed out at 3000. I never found them very helpful. CLI were always at their whim and I haven't had one since 2007. why do you want this card?
06-09-2009 11:02 AM
06-09-2009 06:50 PM
06-09-2009 07:02 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.