No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
i just recieved a notice from capital one that my terms were changing. my rate will change from10.42% to17.9%
i have had thw card for 5 yrs and am carrying a 2000 bal w/ 2500 limit. (paying down higher intret cards first) should i decline and close account or will this have a negative effect on my scores? any advise would be greatly appreciatted.
It would negatively impact your scores by reducing your combined credit limit by 2500. How hard that hits you depends on other information - how much other available credit you have, for instance.
But that's a really high interest rate - an additional $140 annually if you maintain that balance - so you have to consider what's right for you.
john2000 wrote:i just received a notice from capital one that my terms were changing. My rate will change from10.42% to17.9%
i have had thw card for 5 yrs and am carrying a 2000 bal w/ 2500 limit. (paying down higher intret cards first) should i decline and close account or will this have a negative effect on my scores? any advise would be greatly appreciatted.
I got my letter today. My cash advance apr is now 24.9%. The default apr is 29.4%. I have had this card since 05. I pay $3.00 a mo & the limit is $500. I had a over limit early 06 by a few dollars. I have never had a late payment & for the last year I have owed just the monthly charge.
I was subprime when I got the card but now I have a decent scores. 718 to 812. I think I would be OK if I let this card go.
Both my boyfriend and I got this same letter this week from Cap One as well!
(We do not live together)
I did have an over limit lin July 2007, but in the past 20 months, that card has been fully paid on each month and the current balance is zero. My boyfriend also pays his balance in full, he was a few days late on one occasion last year because he forgot to pay! His balance has been zero for months.
I think the balance on my card is going to STAY zero too!