General Credit Topics

[MM1234]

I know its been asked ......but just checking one more time. I have a card I dont use, has a Zero Balance, HIGH APR, $5500 CL and an $39 Annual Fee. If I close it will it hurt me?

My UTIL is now Zero so I dont need the CL for my overall Util Ratio and its a newer card about 2yrs old. All my other Cards have much higher limits and no fees so I just want this on out of my life.

DUMP IT ??

[MidnightVoice]

How old is it?  And how many open cards do you have and how old?

[Boswd]

That's tough, yeah how old is it.    It's the whole paying money each year on a card you don't use and you have better cards.

Also how many total cards do you have?

[CHall]

I'd call and ask them to drop the AF and lower the APR first.  At least that way you have some leverage if you do decide to close it and they start their haggling with you to keep it open.

[MM1234]

Its only 2 yrs old. I called in the past and tried to get it down and they said they cant do that. Also - I cannot covert it to a new card. Its not a Prime card either.

I can call and waive the fee but then I have to remember to do that every year so I figured its time to close.

I have a total of 7 Cards including this one and 4 are prime and older.

Thanks !!

Message Edited by MM1234 on 06-22-2007 11:11 AM

[Boswd]

Dump city!!!!!!!!!!

[MM1234]

Ha!! Well I just called to close it and they said "Noooooo!". Ha!! Well not quite but they did transfer me over to a Manager and....a new card with NO Annual Fee.

So from the last time I called to now they must have changed their ways. I wonder if others were calling in and closing accounts too. So they wised up.

They didnt lower the APR but said I can call back in 2 months and see. I wont be using the card but its nice not to have to close it.

Maybe this info will help someone!

[Boswd]

Good for you!!!!!!!!!!!!!!!!

[Tuscani]

Awesome!

[ilovepizza]

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MM1234 wrote:
Ha!! Well I just called to close it and they said "Noooooo!". Ha!! Well not quite but they did transfer me over to a Manager and....a new card with NO Annual Fee.

So from the last time I called to now they must have changed their ways. I wonder if others were calling in and closing accounts too. So they wised up.

They didnt lower the APR but said I can call back in 2 months and see. I wont be using the card but its nice not to have to close it.

Maybe this info will help someone!

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Great. See if they have or can carry over the original start date (age if card) of the other card you converted for this one.