Credit Card Cancellation Coalinga CA

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

Collectibles Management Resources
(559) 454-8900
1805 N Fine, Suite 105
Fresno, CA
Credit Counselors of California
(415) 788-0288
595 Market St
San Francisco, CA
First California Federal Credit Union
(559) 226-8282
2525 E. Shields Ave
Fresno, CA
The Golden 1 Credit Union
(559) 222-1148
111 E. Shaw
Fresno, CA
A R Credit Collections Bureau Inc
(530) 345-4152
170 E 2nd Ave
Chico, CA
East Bay Financial Management
(510) 451-4085
77 8th St
Oakland, CA
Aurtion Solutions
(530) 898-0220
1074 East Ave
Chico, CA
Consumer Credit Counseling
(866) 331-2227
730 Broadway
Chula Vista, CA
(303) 956-9478
5700 Division St.
Riverside, CA
Consumer Credit Counseling Service
(415) 788-0288
595 Market Street, 15th Floor
San Francisco, 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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