@Anonymous wrote:I have had my Total Visa credit card since August 2016, with a $300 CL and still at the same limit. I am thinking of paying it off ($80 bal) and then closing it because of the high fees attached. They are currently charging me $6.25 monthly maintenance fee, plus $48 annual fee. No rewards and no frills card, which was fine 2 years ago but now that I'm rebuilding my credit and scores are starting to rise I have much better cards like the DiscoverIt secured and Capital One Secured with graduation to unsecured in sight.
My question is since I've never voluntarily closed a credit card, how do I go about doing this? Just call them after I have paid it off and ask them to close it?
Congrats on your rebuild! It's a wonderful feeling when you can look at a CC and say "I don't need/want you anymore. What you can do is call and pay the bill in full and request the card be closed, it's that simple. The positive TL will stay on your report for 10 yrs and that's a good thing. However, you must stay on top of it after you close, these kind of cards have a habit of charging the interest up til midnight the day you close and they "process" your request and you could still have a bal of 5-6 bucks and those sneaky little charges could derail all of your hard work if you miss it and don't pay it off (a DD went through this).
Best of luck to you!
