By: Andrew
Self-employment is not exactly a new or rare condition. I would assume that if you can produce solid tax returns for three or more consecutive years documenting profit (not revenue) of 3-5 times the...
View ArticleBy: SavingEverything
I dont like the strategy of buying something, even coins, just to avoid a $35 annual fee. Heck, 2% merchant’s processing credit card transactions for $2400 is $48. So, if you only spend 1200, they get...
View ArticleBy: RHA
Credit cards and credit card companies will do anything to make a buck. Anyone today who thinks credit cards are the way to go need a reality check.
View ArticleBy: Ron
I’ve cancelled cards in the past and it never harmed my credit score. You just need to make sure that the record shows “Canceled by customer”. If they think that the bank closed the card on you, then...
View ArticleBy: Andrew
I don’t believe this is entirely accurate. One factor in your credit score is percentage of total credit utilized, and closing a card without paying down the equivalent of its entire credit line on...
View ArticleBy: Jim
I’m with you Andrew. It’s possible that canceling a card won’t affect your score but that’s not true 100% of the time.
View ArticleBy: Wizard Prang
I have canceled two of my three credit cards in the past year. Since I am debt-free except the Mortgage, there were no other changes of which I am aware. My score has dropped from 778 to 760. Yes, it...
View ArticleBy: Jim
I don’t think it’s bass-ackwards, it’s just that the various factors aren’t taken in tandem. For example, if you knew nothing else and only saw that credit utilization went up, you’d naturally assume...
View ArticleBy: CC
I cancelled by Citibank card the day I got the letter, no balance on it, so bye bye. It may hurt my credit score, but why pay for something I rarely use.
View ArticleBy: BrianC
I currently have 3 Citi cards–no letter received yet, but I’ll likely cancel as well if one arrives.
View ArticleBy: mildred hasser
Could I get a list of all credit cards that charge a fee for not charging enough or often enough?
View ArticleBy: cheryl
I called Citi and they told me they were charging me the $60 annual fee because I don’t use the card enough and they want me to use it more. The card I have originally was a no annual fee card. I asked...
View ArticleBy: Connie Kim
I had the same exact situation as Cheryl. I was charged $60 this month because I don’t use this card enough and they said they “lose” money for keeping this card. I have had this card for past 6 years...
View ArticleBy: Andrew
When you close a card, your total credit utilization (total balance/total credit line) increases because the denominator decreases. Thus your credit score decreases, though generally not much.
View Article
