Getting a credit card to report 0 $0 balance????

[jmontes77029]

Ok. Thanks for the insight DI. I will definitely try that!!

[Anonymous]

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@jmontes77029 wrote:

The cards will not let me pay more than the balance showing. So if I pay balance in full every month when I reports again it will be $7.00 even if I do not use my card at all. So basically at every closing will show a $7 balance. I hope I am not being to confusing.

Other cards I have

Chase- no fees whatsoever.

Best Buy Rewards Mastered

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OK, thanks.

Given that you have other cards, have you considered closing either one or both of the following:

First Premier Credit- $7.00 monthly servicing fee

Credit One - $5.75 monthly fee for annual fee

You'll have to look at utilization of course before you consider closing any card, but the above monthly fees come to over $150 annually.  And they're seemingly impossible to manage as far as reporting a zero balance goes - which matters. 

Both of the above cards are rebuilder cards.  You're past the point where they do any good for you (except, of course, for utilization if you are carrying balances).  Your Chase card trumps these cards and makes them no longer necessary and possibly no longer beneficial.

Would you mind if I asked what balances you are carrying on each of the cards?  It sounds like the 1st Premier and the Credit1 are basically at zero except for the monthly fees issue.

[DI]

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@jmontes77029 wrote:

Ok. Thanks for the insight DI. I will definitely try that!!

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You're welcome!  Now, let beamMeUp give you further insight.  

[jmontes77029]

Yes they have very low balances. I did consider closing the cards since that have did there purpose. I may call them and so just that. I just have to prepare myself for the hassle that I am going to get. If they offer to waive all fees, should I keep them or ditch them all together?

[Anonymous]

That's like asking if a snake is going to promise not to bite you......

I've found it easy to close cards or deal with telemarketers.  Just say no.  Over and over.  Don't answer questions about why or any other similar questions, just say "I called to close my card, could you do that for me today?"  Be nice and be persistent.

I hate to think that someone keeps a card open just because a CSR tries to make you answer 20 questions on their prompt sheet.  So, keep it open if it serves you well; if it serves them well rather than you, then say goodbye nicely.  Have a sudoku or something fun to watch on TV if it helps keep you going during an extended please close my account phone call. 

And - just checking - your balances on the two remaining cards are: below 9% on one and zero on the other - or you can make it so before they report again?  If so, IMO, I would go for closing the two cash-eating monthly fee cards in a heartbeat.

Best wishes to you on whatever you decide - and do keep us posted.  And remember - it's Independence Day!  That thought just might keep you going!

ETA:  And if you do close these cards (or any others ever) monitor them online for several months to make sure they are reported closed and no more fees are being charged.  The last thing you want is a nasty battle over a $7 monthly fee charged after you believed you had closed your card.

[jmontes77029]

Thanks alot. You have been very helpful!

[tinuviel]

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@DI wrote:

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@jmontes77029 wrote:

The cards will not let me pay more than the balance showing. So if I pay balance in full every month when I reports again it will be $7.00 even if I do not use my card at all. So basically at every closing will show a $7 balance. I hope I am not being to confusing.

Other cards I have

Chase- no fees whatsoever.

Best Buy Rewards Mastered

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Push the payment through via your bank using its Bill Pay service.  If you don't  do that,  you'd continue to have $7 balance reporting

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+1. That's what I did when I had a FP card that charged a monthly fee, and it worked just fine.