I need help from this wonderful forum!
My question is what happen if I close this CO CC because I am mad at them, they really spend a tons of paper untill they get you than later they dont show any respect at all. I have their card from 2007 (is among oldest account) and they dont increase CL (1000CL for years), don't upgrade but they just change terms and raise APR!
Please if anybody can advise me what to do? To close the account or accept new terms?
if you feel like its worth keeping the card you could always call Customer Service and see if they'd be willing to waive the annual fee. maybe ask for a CLI first and if they say no ask to waive the AF. It cant hurt to ask IMO.
The exact same thing happened to my wife last statement. Membership fee was $49 on a 1K credit line. She called and they refused to remove charge. We promptly closed account and told CO to get lost.
If you close the account, it will still remain on your credit report for 10 years. At that point it will drop off, and you length of credit history will drop to however long your second oldest card is, so I wouldn't worry about it being your oldest account. If it was your oldest by 20 years, that would be different, but 3 years, or less, I wouldn't worry about it.
I would at least call to see if they will waive the fee, or switch to a different card without an anual fee, but if they don't I would cancel it.