topic Re: I made the mistake of accepting a Milestone CC. in Credit Cards

I made the mistake of accepting a Milestone CC.

Girac — Sun, 18 Jan 2015 15:43:16 GMT

About 18 months ago I was rebulding my credit and accepted a milestone cc with a 300 dollar limit, they charged me a large activation fee. I carried no balance on this thoughout the year and a few months ago I got a 99 dollar fee.

I want to cancel this card as they will not give me a cli.

If I cancel it with affect will it have on my score?

I will be paying off a student loan on the next month, bringing lonas from 4 loans to 2, as I paid off a student loan last month. remaining lonas are Student loan and auto.

I want to go for a new auto loan or lease as my car is used for 90% of business.

Should I close my account before I go for a new loan or after that?

Disregard the score in the signature, my current score is 664 and expect it to go up a few more points since my utilization will be 55%

Re: I made the mistake of accepting a Milestone CC.

Anonymous — Sun, 18 Jan 2015 15:45:18 GMT

@Girac wrote:
About 18 months ago I was rebulding my credit and accepted a milestone cc with a 300 dollar limit, they charged me a large activation fee. I carried no balance on this thoughout the year and a few months ago I got a 99 dollar fee.
I want to cancel this card as they will not give me a cli.
If I cancel it with affect will it have on my score?

I will be paying off a student loan on the next month, bringing lonas from 4 loans to 2, as I paid off a student loan last month. remaining lonas are Student loan and auto.

I want to go for a new auto loan or lease as my car is used for 90% of business.

Should I close my account before I go for a new loan or after that?

Disregard the score in the signature, my current score is 664 and expect it to go up a few more points since my utilization will be 55%

Closing the card will not affect your credit score. It will affect your wallet as you won't have to keep paying ridiculous fees for such a low limit card.

Close it now.

Re: I made the mistake of accepting a Milestone CC.

Anonymous — Sun, 18 Jan 2015 17:07:57 GMT

I would close the card without hesitation. The fee's are not worth it. I closed the Credit One card for the reasons of no grace period, no CLI without a fee and the $35 annual fee for a card I never use.