Credit Card Cancellation Coalinga CA

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

Get Great Credit LLC
(916) 503-3186
1215 K St Fl 17th
Sacramento, CA
 
Credit Correction Service
(951) 788-0877
3824 University Ave
Riverside, CA
 
Anderson Tom L Attorney At Law
(209) 579-5555
1300 H St
Modesto, CA
 
Fresno County Federal Credit Union
(559) 252-5000
4422 W. Ashlan
Fresno, CA
 
Sin Mas Deudas
(619) 500-3383
317 Heffernan #10182
Calexico, CA
 
Bell R Scott Law Office
(661) 322-9500
1412 17th
Bakersfield, CA
 
Attractive Credit Inc
(619) 656-8300
2521 Windward Way
Chula Vista, CA
 
Dreyer & Co Consulting Firm
(510) 639-2190
7700 Edgewater DR
Oakland, CA
 
State Center Credit Union
(559) 225-7228
1515 E. Shaw Ave
Fresno, CA
 
Clear Credit Exchange
(408) 727-7711
1650 Zanker Rd Ste 131
San Jose, CA
 

Credit Card Cancellation

Provided by:

Dear YOUNG MONEY,

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.

Megan

 

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....


Click here to read the rest of the article at YoungMoney.com.