Hi,
So I've got a USAA Amex card. It's the secured one I got right at ch7 discharge, actually about a month before discharge.
It's about the hit the one year mark and charge me a $35 annual fee. Since getting the card, I have other cards that have no fees, including discover secured which is approaching 8 months, cabelas visa, and a few store cards. I rarely use the USAA card, just put something small on it and PIF.
should I keep it and pay the fee since they're technically a prime lender, or cancel or at the one year mark and get my deposit back? I don't need the money, and I look at the fee as a cost of rebuilding credit.
Scores are now all 650-680.
So I've got a USAA Amex card. It's the secured one I got right at ch7 discharge, actually about a month before discharge.
It's about the hit the one year mark and charge me a $35 annual fee. Since getting the card, I have other cards that have no fees, including discover secured which is approaching 8 months, cabelas visa, and a few store cards. I rarely use the USAA card, just put something small on it and PIF.
should I keep it and pay the fee since they're technically a prime lender, or cancel or at the one year mark and get my deposit back? I don't need the money, and I look at the fee as a cost of rebuilding credit.
Scores are now all 650-680.
Don't get stuck on whether a card is a "prime lender" or not. Your credit report and score don't care if the trade line is from Credit One or from God.
If the card isn't useful to you, and you have enough credit without it, there's particular reason to pay an annual fee. Some argue that a manual review may see it as favorable, but there's no solid evidence either way.
But as suggested, it doesn't hurt to ask.
If the card isn't useful to you, and you have enough credit without it, there's particular reason to pay an annual fee. Some argue that a manual review may see it as favorable, but there's no solid evidence either way.
But as suggested, it doesn't hurt to ask.