Need Help!!!

[Anonymous]

I have a student credit card from bank of america and would to cancel that account and open anew one with a lower APR. Is that going to affect my credit history?

[Creditaddict]

If that is the only credit card you have, DO NOT CLOSE IT.  Just apply for new card and keep this student card open for right now unless it's just costing you fortune in annual fee.  But you need to establish some more credit before you want to close an account you have built history with.

The other option is to call the bank with your student card, they might have other products to upgrade you into based on your good history with them.

[Anonymous]

good advice and agreed. never close a cc unless it is costing you fees. and in the very beginning when you have little or no cred. hist you may need to pay a fee the 1st yr.

try whogavemecredit.com and find out w/ your scores if you can app for a 0% MC for at least six mos to a yr and add that to you portfolio of cards.

[Dawn]

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djenneka wrote:

I have a student credit card from bank of america and would to cancel that account and open anew one with a lower APR. Is that going to affect my credit history?

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If you are still a student and looking for lower APR (and your history is unblemished,) you might take a look at Sovereign Bank, if you don't already have better options.  My daughter has a 9.9% APR on this student card.    This is her first credit card (and didn't require us to co-sign for her.) 

I don't know what the scoring requirements are for that 9.9% rate ... if you don't fit there, it appears to be 15.99%.  Chase just sent her an "offer" at 18.00% ... I shredded it without ever showing it to her.