I have a credit card through a company which I believe is engaged in unethical practices and I no longer wish to have a card with them. Their APR is 29.99%. I currently have a $0 balance and I am wondering if anyone can advise me on what my best options are that will prevent anything negative happening on my credit score. My problem is this is my longest held credit card (just under 10 years). Is it best that I just leave the card open and not use it? Should I close it and open a new one with other company? Should I wait until they close it for inactivity? I'm clueless. Any advice?
USA Credit Card Help?
- Thread starter VanessaD
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- May 28, 2011
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There's a lot of factors that could influence the answer, and I understand your concerns about closing 'the oldest account' impacting credit score. APR's should make no difference if you pay in full, but dealing with an unethical company is another issue so it makes renegotiating moot.
I'd open a new account but leave the other open until they close it for inactivity or at least a year, as long as the open line is not too large. Make sure to put a request on the account to disable credit limit increases. If you want the card to help with your credit score short term, autopay a small recurring bill - like a utility biil- to the card and set to auto pay your credit card every month.
I'd open a new account but leave the other open until they close it for inactivity or at least a year, as long as the open line is not too large. Make sure to put a request on the account to disable credit limit increases. If you want the card to help with your credit score short term, autopay a small recurring bill - like a utility biil- to the card and set to auto pay your credit card every month.