topic Re: CLOSING CARDS in Credit Cards

CLOSING CARDS

Anonymous — Sat, 10 Nov 2007 00:50:46 GMT

I am thinking about closing these cards now.

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cortrust

legacy

continental finance

rewards 660

total visa

orchard bank

They charge me monthly or annual fee or both.

Any thoughts?

Re: CLOSING CARDS

Anonymous — Sat, 10 Nov 2007 00:55:51 GMT

close em as long as uti is under 30%

Re: CLOSING CARDS

Anonymous — Sat, 10 Nov 2007 00:55:55 GMT

Not the card King!!!

Re: CLOSING CARDS

Anonymous — Sat, 10 Nov 2007 00:56:18 GMT

If you have cards now with no AF or MF, then I would think you would want to get rid of those that are charging you. But then you also have to consider your FICO score will take a hit. Then you will free up a lot of money with that many cards with fees on them. Maybe start closing one or two at a time, or close them all at once and let the FICO bottom out then start rebuilding it. Not really sure the best advice just some options. We still have my hubbys WaMu card org. prov. with annual fee I should close it. But long history on it, by no means not the oldest account. Realize now we should never had had to pay an AF. Tks Vicki

Re: CLOSING CARDS

Anonymous — Sat, 10 Nov 2007 00:56:40 GMT

Should I close one every month or should I close all these at the sametime?

Re: CLOSING CARDS

Anonymous — Sat, 10 Nov 2007 00:57:30 GMT

did u try to call them to remove the AF?

Re: CLOSING CARDS

Anonymous — Sat, 10 Nov 2007 01:00:45 GMT

ASH, these cards are the bottom of the subprime barrel. With al lyour new credit you have no need for them and the low limits are polluting your credit file. Close them all at onceor in a round it won't matter once your new cards start reporting and fewer cardswill probably raise your score.

Re: CLOSING CARDS

Anonymous — Sat, 10 Nov 2007 01:01:26 GMT

Yes I have. They told me the AF hasnt posted yet this year. I'm like I know that but I wanted a no AF card. But dont think I will have luck with them on that.

Depends, close them all like another poster said if it doesnt hurt your util.

Or one by one as you can. Def you will have the money from the fees. How much is that 50.00 a mth all together? If you will still have good util it shouldnt hurt your FICO I dont think. Tks Vicki

Re: CLOSING CARDS

Anonymous — Sat, 10 Nov 2007 01:02:06 GMT

Thanks Brammy. You are right. I am worried about orchard bank that is my

oldest card but I hate their customer service. can you believe it I have that

card for over 2 years and the limit is 400.

Re: CLOSING CARDS

Anonymous — Sat, 10 Nov 2007 01:03:07 GMT

Ifyour history is good it willremain on your report for ten years minimum so you won't lose the history. By the time you do it probably wont make a difference

Re: CLOSING CARDS

Anonymous — Sat, 10 Nov 2007 01:03:37 GMT

I think wamu has cards with no annual fee.

Re: CLOSING CARDS

Anonymous — Sat, 10 Nov 2007 01:05:34 GMT

You don't need anymore cards and I won't even bother to try to make a joke of it. Keep what yu have and let them raise your limits.

Re: CLOSING CARDS

Anonymous — Sat, 10 Nov 2007 01:06:23 GMT

ok I will close all these cards who have AF and monthly fee. It does not make

any sense to have these cards. Now I have few prime cards.

Thanks Brammy.

Re: CLOSING CARDS

NowIcare — Sat, 10 Nov 2007 01:07:09 GMT

Dump em for sure, with all the new Prime cards you dont need that garbage.....

Re: CLOSING CARDS

haulingthescoreup — Sat, 10 Nov 2007 01:35:28 GMT

OMG, he is seeing the light...

With credit cards, you can be the cat, or you can be the cat litter. I know which I would choose!

Re: CLOSING CARDS

Anonymous — Sat, 10 Nov 2007 02:26:28 GMT

Yep

I think its time. I am not only paying AF and monthly fee plus I have to pay

more to get more wallets to keep them

Re: CLOSING CARDS

Anonymous — Sat, 10 Nov 2007 13:46:23 GMT

@haulingthescoreup wrote:
OMG, he is seeing the light...

With credit cards, you can be the cat, or you can be the cat litter. I know which I would choose!

Oooh, I have to remember this one! ROTFL