Chase Account question

[Anonymous]

Hi i have a chase sapphire card with a 5100 limit at 27.24%, it is an old wamu card. the rate has been the same foreever. Should i close it the remainging credit limit will be put on my other chase cards with lower aprs. the account is 10 years old.

[tntexans72]

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@Anonymous wrote:

Hi i have a chase sapphire card with a 5100 limit at 27.24%, it is an old wamu card. the rate has been the same foreever. Should i close it the remainging credit limit will be put on my other chase cards with lower aprs. the account is 10 years old.

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I don't think it's easy obtaining new credit now days, plus the account is 10yrs old. I would keep it. Just use it to pay for gas or cable bill monthly to keep the card in service than PIF. It's definitely not a card you want to carry your balance on.

Have you try to call Chase and ask them to reduce the rate?

[DI]

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@Anonymous wrote:

Hi i have a chase sapphire card with a 5100 limit at 27.24%, it is an old wamu card. the rate has been the same foreever. Should i close it the remainging credit limit will be put on my other chase cards with lower aprs. the account is 10 years old.

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I would not use it rather than close a 10 y.o. account with a  high limit.  Have you called to inquire about lowering the APR?  The APR isextremely high to not be a store card.

[Anonymous]

i have 2 other cards with chase,

Continental Presidential Plus-$20000@13.24

Tj Maxx reward Mastercard-$9000@13.24 Just approved

They wont lower the rate

[DI]

Are you carrying a balance on the card?

[Anonymous]

Nope the only card that has a balnce is the continental card but i pay that off every month.

[DI]

If you carry no balance on the card don't worry about the APR.  Either continue to pay in full all charges or don't use the card. 

[Anonymous]

ok i really am trying ot consolidate though. I am trying to get rid of a card.

[DI]

Do you have other cards that are older than the Chase card?  If not, don't risk losing your AAoA after the account is deleted 10 years after closure. 

[AndySoCal]

This card is helping your average of accounts.  One thing the FICO score does like is accounts with a long credit history like this account. If you need to carry balance just do not use this card to do so.  I would agree with the others keep the account  open and active.