Have you tried closing a credit card lately? I tried and failed. I called to cancel our Citi Premier Pass card and they would not let me close it. The Premier Pass card is going away and it will be converted to the new Thank You card. The lady was very generous, she gave me extra Thank You points, lower APR and 4 extra reward points for every dollar spent on purchases for the first 3 months. So here is my new Citi Thank You credit card:
The main reason I will keep this account open is for my credit history. I've had the Premier Pass card for over 8 years and this new Thank You card will retain that history. I also have a $23,000 credit line on this card which helps the credit score. Don't worry, the balance is Z E R O and it will stay at $0. I will not use this credit card to make any purchases.
HS
16 comments:
why did you want to cancel it? why did you take no for an answer?
They have to let you close the card if you want to. they can't force you to keep it open. Although they did give you a bunch of perks for keeping it.
If I were you, I'd either cut up the card when it comes in the mail, or even freeze the card in a block of ice! I've heard of people doing this! put it in a Tupperware container full of water and stick it in the freezer. If you need the card for a real emergency, a few min under a hair dryer will set it free!
I completely understand holding on to it for the credit history. One of the reasons I don't want to close a few of my cards...
I have never heard of a CC company not allowing you to close a card if you have zero balance. If you must keep it, I would throw it in a ziplock bag of water and freeze it.
Yup, I will cut it up as soon as I get it, that way I can't use it... or the number.
Becky, I wanted to cancel it so I won't use it but the lady convinced me to keep it open, so many perks LOL.
HS
Persuasive of a sales rep and 'would not let me close it' are very different things.
Run the card through a shredder, take out the little shredded bits, form them into the shape of the word "NO" and hang somewhere prominently.
Mutant! thanks, I might even take a pic and upload it, just for you LOL
HS
they can't refuse to cancel a credit card.
basically she talked you back into it which I guess is her job.
Louse, that's exactly what she did!!! but I gained some stuff and a lower APR...
HS
I called to return the Vac then Steam (since I ordered two) and basically I would lose the shipping and I would have to pay to ship it more lost money, but while on the phone they said if I kept both they would credit me $70. Since I actually liked the product just not price I paid I took the deal.
If you don't use the card you don't gain anything. So either way you've been had by the credit card company.
I was thinking the same thing Broke by Choice said, if you aren't going to use it why does a lower APR and extra points matter?
I understand wanting to keep your credit history, so you definitely have to stay strong. It would be best to cut it up, and don't even look at the number.
Hi Niki,
The extra points are nice for gift cards... but yeah I'm keeping it open mainly for the credit history and score.
HS
What about the annual fees? Come on now, that's money down the drain! :(
Ronnie, this card has a $0 annual fee, as long as I don't use it I should be OK...
HS
I can't wait to cut up some of my credit cards. I have two left.
Thanks for the suggestion you left on my blog. It's hard to eat more often when I'm just not hungry. I'll try to sneak a snack in there somewhere. Do cupcakes count? ;-) Kidding.
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