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headoverheels
s'il vous plaît
Member since 6/07 42079 total posts
Name:
LB
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WWYD? Credit card related
I received a notice on a store (clothing) credit card I have that as of 7/1/10, there will be no upper limit to the maximum APR on the card (which is currently 24.99%).
There will also be a $1.00 fee for every paper statement I receive.
I never carry a balance on this card - if I use it, it's paid off in full each month. I don't use it every month.
I have no problem canceling my paper statements and only receiving online notification when my bill is due.
I have the option of canceling the card now, but part of me wants to keep it open because occasionally I get an extra discount when I use the card in the store.
WWYD? Keep the card or cancel it? I am trying to think of a reason to cancel and I can't, but I'm not in finance  and I don't want to get burned later.
Sorry if this sounds like a dumb question. 
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Posted 2/4/10 10:10 AM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
dcl08
<3
Member since 4/07 3915 total posts
Name:
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Re: WWYD? Credit card related
doesnt it affect your credit score if you close a card? im not sure but this is what i heard and thats why i have credit cards i dont use but am afraid of canceling
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| Posted 2/4/10 10:19 AM |
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KateDevine
*
Member since 6/06 24950 total posts
Name:
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Re: WWYD? Credit card related
I'm not good at this stuff, but I would probably cancel the paper statements and keep the card until something shady happens, then cancel it.
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| Posted 2/4/10 10:22 AM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: WWYD? Credit card related
go paperless and keep the account open
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| Posted 2/4/10 11:24 AM |
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Shorty
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Member since 5/05 30390 total posts
Name:
really
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Re: WWYD? Credit card related
is this NY&Co?
i agree - go paperless and leave open.
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| Posted 2/4/10 11:32 AM |
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headoverheels
s'il vous plaît
Member since 6/07 42079 total posts
Name:
LB
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Re: WWYD? Credit card related
Posted by Shorty
is this NY&Co?
i agree - go paperless and leave open.
Yes, so annoying right? They are lucky I shop there ALL the time or else this card would be closed in a heartbeat.
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| Posted 2/4/10 11:40 AM |
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LoriH
There's no place like home
Member since 8/07 4110 total posts
Name:
Lori
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Re: WWYD? Credit card related
Go paperless and leave it open. Canceling long standing credit cards can have a negative effect on your credit score.
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| Posted 2/4/10 11:58 AM |
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Salason
♥
Member since 6/05 9878 total posts
Name:
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Re: WWYD? Credit card related
Posted by LoriH
Go paperless and leave it open. Canceling long standing credit cards can have a negative effect on your credit score.
I agree!
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| Posted 2/4/10 1:08 PM |
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Pray4Baby2010
<3 Cutest Giants Fan
Member since 10/09 5796 total posts
Name:
MB
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Re: WWYD? Credit card related
Posted by headoverheels
Posted by Shorty
is this NY&Co?
i agree - go paperless and leave open.
Yes, so annoying right? They are lucky I shop there ALL the time or else this card would be closed in a heartbeat.
lol I had this same discussion yesterday with my friend- she's a financial whiz and she said keep it open because its good for your credit score and besides their clothes are cute 
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| Posted 2/4/10 1:10 PM |
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sunflowerjesss
Mommy to 3!
Member since 10/05 20369 total posts
Name:
Jesss, duh.
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Re: WWYD? Credit card related
I haven't gotten this notice yet!
Ugh, I hate cc companies that make these "changes". In my honest opinion, I'd cancel it because I can't be bothered with that shiznit
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| Posted 2/4/10 1:19 PM |
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sunflowerjesss
Mommy to 3!
Member since 10/05 20369 total posts
Name:
Jesss, duh.
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Re: WWYD? Credit card related
Or at least the option to "forward" from your sent folder. It would make it much easier to send the same FM to more than 6 friends
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| Posted 2/4/10 1:20 PM |
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Shorty
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Member since 5/05 30390 total posts
Name:
really
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Re: WWYD? Credit card related
Posted by sunflowerjesss
Or at least the option to "forward" from your sent folder. It would make it much easier to send the same FM to more than 6 friends
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| Posted 2/4/10 1:44 PM |
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DiamondGirl
You are my I love you
Member since 7/09 18802 total posts
Name:
DiamondMama
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Re: WWYD? Credit card related
I never open store CC bc I hate these hassles have two CC's and thats ENOUGH!
With that said since it is open I would go paperless and keep it open 
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| Posted 2/4/10 1:48 PM |
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Re: WWYD? Credit card related
Cancel it-just my opinion. 
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| Posted 2/4/10 2:12 PM |
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