@ABattle wrote:
I am in the process of paying them off but I'm wondering if I should just close now. I'm thinking it would be cheaper in the long run. Especially when factoring in the $7 monthly fee plus the annual fee I just got hit with. I'm not looking for any extra credit right now so I'm not that concerned about UTIL. I'm just tired of them and their fees. I know that closing won't stop the interest but it will do away with the fees. On this past month bill I had the $7 monthly servicing fee, $49 annual fee + a $29 fee for having an AU. An extra $85, smh. Any thoughts or opinions on this one? Would this really be that much of a mistake, closing an account w/o having a zero balance?
Yes' if the fees are getting to you close it as it will report positive history for up to 10 years
HOWEVER closing an account with a balance on it will result in a Fico scoring ding big time
You may wish to payoff the card first and then close the account IMHO
Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
