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New Member
Posts: 8
Registered: ‎07-15-2010
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Is it a good or bad idea to...

[ Edited ]

i have a HSBC/Orchard bank card with a $670.00 CL,, they charge me $59.00 for an annual fee,, i just got a $1000.00CL Cap One card with $0 Annual fee,, my question is should i keep the HSBC anyway to help rebuild credit,, i have a total of four cards as follows:

HSBC 600 limit plus an 59 dollar annual fee

Orchard bank 670 limit with a 59 dollar annual fee

Cap One 1000 limit with a $0 annual fee

Cap One 1000 limit with a 59 annual fee 

any input is appreciated..

also i called them to see if they could waive the annual fee etc or increase the CL and she said they are not doing anything at this time refering to CLIs or annual fees.

Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
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Re: Is it a good or bad idea to...

How old is each card?

Posts: 98
Registered: ‎01-14-2008
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Re: Is it a good or bad idea to...

Save yourself the money and close it. Right now you pay $177 in annual fees Smiley Sad


I use to have a tribute card with a $99 annual fee. After 2 years i called up and told them i would like to close the account if they did not waive it. The CSR told me she could not do that but she could give me a CLI so I went ahead and closed it as this card had no rewards (sub-prime) and a lowsly CL ($1000).

Starting Score: 626 (July '10)
Current Score: 679
Goal Score: 720

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