Credit Card Cancellation Coalinga CA

A credit expert explains why canceling your credit card may not be such a good idea.

Card Payment Solutions
(559) 275-7577
4213 State Street
Santa Barbara, CA
Consumer Credit Counseling
(916) 489-1995
4029 Marconi Ave Apt 91
Sacramento, CA
State Center Credit Union
(559) 225-7228
1515 E. Shaw Ave
Fresno, CA
Bay Area Credit Serv
(408) 392-4467
2860 Zanker Rd Ste 105
San Jose, CA
Credit Bureau Services
(530) 673-5050
589 East Ave
Chico, CA
Fresno County Federal Credit Union
(559) 252-5000
4422 W. Ashlan
Fresno, CA
We The People
(209) 523-8227
1347 Mchenry Ave
Modesto, CA
Zerodebt USA
(949) 752-0501
1820 E Garry Ave
Santa Ana, CA
Chellie Campbell's Financial Stress Reduction Workshop
(818) 906-9894
15047 Marble Dr.
Glendale, CA
Assist U Practice
(562) 984-2024
4401 Atlantic Ave
Long Beach, CA

Credit Card Cancellation

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I am 20 years old and got my first credit card about a year ago, and have been responsible with it (always paying on time, never going over limit, etc) right now I have zero balance on it. The card I have is a Citi Credit Card and the APR is 19.99%.

Just recently I applied for a card through my work (I work for USPS) and got approved. Now I have a Chase Credit Card with a low APR of 9.99%.

I don't need two credit cards. I would prefer the Chase one with the lower APR (through my job). Is there any way I would be able to cancel the Citi on and just keep the Chase one? Or would that look bad on my credit report?

I haven't used the Chase one yet. Also, if that were the case, and I quit my job, would I still be able to use the card with its low APR even though I am no longer working at my job? I have zero balances on both right now. Thanks for your time.



Hi Megan,

Good questions.

I would advise you NOT to close the Citi Card. The length of time that you have accounts open helps boost your credit score. If you cancel the Citi Card, which is your right if you choose to do so, you lose that year of good, responsible use of the card.

I would urge you to call Citi and ask for a lower interest rate. They will see that you have the Chase account and may lower your interest to give you an incentive to use the card. If the high interest card has an annual fee, I would also ask that it be removed....

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