say i get a credit card and after a lil while i decide that i dont want it anymore, how do i get rid of it?
and is a credit card with no app fee and no annual fee and no interest charges (0%apr fixed) on purchases up to 250 a good card?
2007-02-14 16:38:44 · 9 answers · asked by memememe!!!!!! 1 in Business & Finance ➔ Credit
You just call the credit company and they'll cancel it. However, if you don't have good credit, it's a good idea to keep it around. Part of what counts towards your credit score is how much you can borrow but don't.
Yes, a credit card with no fees is a good deal but too good to be true. Is this an introductory offer? If so, then that's normal but I have NEVER seen a credit card with ZERO interest for ALL loans. That or they call it a debit card.
If in fact it is a zero interest card, please post a link or tell us which bank.
2007-02-14 16:40:44 · answer #1 · answered by Eric L 5 · 0⤊ 1⤋
Normally, you can just call the bank that issued you the card and have the card cancelled, but it greatly depends on how long "a lil while" is. If it's less than two years, it will be likely to show up as a negative mark on your credit report, which means it will be harder for you to get new loans, credit cards, mortgages, and so on. As long as there's no annual fee on that card, I would just put it away and not use it.
The other card you're describing sounds good, but what's the interest rate after $250? If that rate is higher than the one you have now, I would say that the card isn't really worth it.
2007-02-14 16:44:54 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You do not do anything with it. Do not cancel or close the account because it will show up on your credit report as a closed account. If anyone does a credit check on your credit, this will show up a closed account, and this will actually lower your credit rating points. Just cut the card up and dispose of it if you are certain you are not ever going to use it again.
Here is something to read about closing an account. It will tell you the same thing.http://www.sptimes.com/2004/03/21/Columns/Closing_credit_card_a.shtml
2007-02-14 16:42:50 · answer #3 · answered by Sparkles 7 · 1⤊ 0⤋
You don't want to get rid of it. After paying off all bills then just put it away. It affects your credit if you close that account and you were in good standing. Just let it remain dormant if there are no fee applied to do so. Trust me on this one. You may use it again someday if you need to.
2007-02-14 16:43:06 · answer #4 · answered by Golden Smile 4 · 1⤊ 0⤋
good for now but more than likely that will change after the first 6 months there are alot of hidden fee's in them. They should have an 800 number for accounts just call and tell them you want to close your account.
2007-02-14 16:49:15 · answer #5 · answered by firetdriver_99 5 · 0⤊ 0⤋
If you close the account be sure to check back with the credit bureaus that it has been done. Sometimes it falls through the cracks. Also you want the report to say "Closed by Consumer."
2007-02-14 17:08:04 · answer #6 · answered by Elizabeth A 1 · 0⤊ 0⤋
To get rid of a credit card, you want to pay the balance of the card off, then you want to call the credit card company and tell them you want to end your account. Once you done that, shred your card so no one has any access to it. This can be done in any order.
2007-02-14 16:42:01 · answer #7 · answered by Other 1 · 0⤊ 1⤋
pay off balance owing,advise the cc company and keep note of your advice, cut up credit card.
sounds good , but whats after the 250? ie what interest then?
good luck with moving towards freedom of debt.good start.
2007-02-14 16:45:32 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Yeah call them.
Always call or contact the company if you have a questions about their product.
They will probably ask you why?
They don't want you to cancel your credit card but insist and they gonna do it.
2007-02-14 16:43:38 · answer #9 · answered by lollol 2 · 0⤊ 1⤋