I closed a CC account!

midlight21 · #1 (**permalink**) 02-28-2006, 03:51 PM

I just closed the credit card account that I paid off in January! They really do try and get you to keep the card....pushy pushy.

homeCooking · #2 (**permalink**) 02-28-2006, 05:19 PM

hi midlight
well in the past i opened a cc account in every store i go, old navy, macy's, sears...now i decided to close all of them and they are giving me the hardest time. I am telling them i am moving out of the country..that usually works!!
good luck

debtfreeme · #3 (**permalink**) 03-01-2006, 08:46 AM

Make sure how you close them. It is best to send a letter to close it and request that it is closed at the consumers request.

Make sure also that if you have more than one card your debt to credit ratio is less than 30%. This will help your fico score and allow you to get the best deals on things.

If you have more than one card it is better to keep the paid off card open for a while and help your debt to credit ratio.

If you have questions, ask!

dealsaver · #4 (**permalink**) 03-01-2006, 10:12 AM

Quote:

Originally Posted by midlight21

I just closed the credit card account that I paid off in January! They really do try and get you to keep the card....pushy pushy.

If you've realized that you've made a mistake by closing your account, depending on the issuer, you may be able to call them back and have them reactivate it.

flash · #5 (**permalink**) 03-01-2006, 01:09 PM

Quote:

Originally Posted by midlight21

I just closed the credit card account that I paid off in January! They really do try and get you to keep the card....pushy pushy.

Congratulations! That's a huge accomplishment!

And yes, they do try hard. If you ever want the best deal possible on a card, just try to cancel it.

homeCooking · #6 (**permalink**) 03-01-2006, 03:57 PM

really i don't understand what's the big deal with closing a credit card account that I opened because I wanted and that I don't use. How could that affect my credit. My credit would be affected if I decided to use it and then not pay. I don't think it's a good idea to have lots of credit cards because you are a lot more vulnerable to indentity theft. I don't want to have credit cards I don't use under my name.
The FICO score thing it looks like a fiasco to me. The only use I can think of for that score is if I need a loan to buy a house but in today's market everybody gets low rates no matter how bad their credit is.
My BF who is deep in debt bought a house with IO option at the lowest possible rate around 5.50. Today financial institutions seem to be desperate to throw money to whoever ask for it.....