I just got this creditcard in maybe march...its a Saks card and i never use it. I have really good credit and I dont want to ruin it with this card if I cancel it. Help?
2006-10-10 11:03:41 · 10 answers · asked by RubiaBonita 2 in Business & Finance ➔ Credit
Department store cards mess your credit up worse than a regular credit card. I got burned by my Lane Bryant's card so do yourself a favor and CUT THAT BAD BOY UP. Get yourself a 0%-9% with NO annual fee. Keep a limit of no more than $2500 and only increase credit that you can afford to pay back. You should have no more than one or two cards one you have for normal use and one for emergencies with a credit line of no more than $5000. Here's a tip for you check your credit history annually and here's a site you can get your credit report for free go to www.annualcreditreport.com and get your report from all 3 credit bureaus to check for accuracy and to have stuff removed. Whether you got good or ok credit check your report annually.
2006-10-10 12:27:07 · answer #1 · answered by nabdullah2001 5 · 0⤊ 0⤋
Remember you are the client and you do what you want. Never feel bad for canceling a credit card. They need your business.
2006-10-10 18:13:10 · answer #2 · answered by Artguer 2 · 0⤊ 0⤋
As long as there is no monies owed.You can cancel any type of credit card.Just cut in half and send it back to them with a short not that you want your account closed.
2006-10-10 18:13:41 · answer #3 · answered by George K 6 · 1⤊ 0⤋
You only do bad when you borrow money and don't pay it back, not by canceling a card.
2006-10-10 19:26:52 · answer #4 · answered by ken_voss12345 4 · 1⤊ 0⤋
it won't kill your credit if you cancel it. if you keep it open for a while it will do less harm. if you have no intentions of using it, then I'd cancel it...
just don't have too many inquiries in a year...
2006-10-10 18:34:07 · answer #5 · answered by akaagassi 2 · 0⤊ 0⤋
Keep it at least a year. I wouldn't cancel so soon.
2006-10-10 18:11:02 · answer #6 · answered by Starr 5 · 0⤊ 0⤋
Put it in a locked box or file cabinet for a year.
2006-10-10 18:12:37 · answer #7 · answered by Nani 5 · 0⤊ 0⤋
cancelling with reduce your score, no harm in keeping it open as long as you don't have any balance on that Card.
2006-10-10 19:22:05 · answer #8 · answered by chandler 2 · 0⤊ 1⤋
Keep it open otherwise your FICO score will decrease
2006-10-10 18:11:04 · answer #9 · answered by Mopar Muscle Gal 7 · 0⤊ 1⤋
no,not at all
2006-10-10 22:45:21 · answer #10 · answered by colorado 3 · 0⤊ 0⤋