Comments on: What is the best way to get rid of a credit card?

By: suzzieq175

suzzieq175 — Sat, 10 May 2008 13:51:02 +0000

first of all..how long have you had the account??? the best way to get rid of it..is do a “settlement”. that will be 90% of your balance, and make sure that you tell the agent that you want a settlement. i am a collector for this company. you can call 1-866-670-5069 to do a settlement. also if you’ve had the acct. for a year your annual fee will be about $89.00.

By: E-Rock

E-Rock — Sat, 10 May 2008 11:37:42 +0000

Tell them you want to have that fee waived… if they dont… call another place and set up a new card. xfer the balance and then cancel the card… if you have been in good standing with them, they should waive the fee.

Take the good customer route first, if that doesnt work. claim “FINANCIAL INSOLVENCY” – say you are having to choose between paying bills or your credit card bill and if they dont waive the fee you will have to go delinquent…

But to really get rid of a card… throw it on a bar-b-que… thats the best way to get rid of it.

By: kcincon

kcincon — Fri, 09 May 2008 09:17:59 +0000

First, call them. See if you can change to a no fee card. That way if it is an old credit file, you’ll keep it open and it will help your credit rating. If it’s not old or they won’t change you to a no fee, close it after you pay off (or rather transfer balance to your new, no fee card – the cost should be less than $150).
Second, if you are closing the account, make sure you call of write to do that. A $0 balance does not mean the account is closed.
Hope this helps!

By: AzCarl

AzCarl — Fri, 09 May 2008 00:53:12 +0000

Cancel the account & destroy the card. Then, pay it off as soon as possible. As long as you make timely payments, it shouldn’t hurt your credit. I don’t know if you can get out of the annual fee, but they should at least prorate it.

By: pattibcacl

pattibcacl — Wed, 07 May 2008 02:57:56 +0000

pay them first then cancel then take a pair scissors and cut the card up

By: Ingrid D

Ingrid D — Tue, 06 May 2008 23:41:22 +0000

pay first and then cancel the account.

By: hmsmiller

hmsmiller — Tue, 06 May 2008 16:50:16 +0000

You can cancel a card at anytime. This of course does not mean that you are not to pay off your balance still. IF you have good credit you should know that leaving credit cards open just make sure not to use them actually helps your credit score. I HAD BAD BAD credit years ago from my Ex maxing out all my cards. It took me several years to pay off the $11K’s but it was done. My credit was horrible because of all the late fees and such. Well now I have awesome credit and all 3 credit agencies report my score as ‘Excellent’. I paid off all my low c/c’s canceled all but one card. That is put away in my fire box for emergencies. And I transferred my high balance card last year to a 0% interest card for 12months. They say to leave credit cards open (just do not use them) and it reflects good on your credit reports. Just like 2 or so cards. Just a little extra tip. I canceled my crappy cards that were charging me an annual fee…

By: latanikagrant24

latanikagrant24 — Mon, 05 May 2008 05:35:26 +0000

The best way to get rid of a credit card is to call and cancle it, than cut it up with scissors.

By: Amanda H

Amanda H — Sat, 03 May 2008 19:42:43 +0000

YOu usually cant close an account iwth a balance.

Consider calling them, if you’ve got a good payment history, and telling them you’re going to cancel if they dont get rid of the annual fee. If you’ve been a good customer they might do that.

For your credit, you want to keep the same accounts open as long as possible (They like long-term history) so try this first before canceling.

By: karaktergurl

karaktergurl — Sat, 03 May 2008 03:36:04 +0000

pay it off first. then get rid of it and cut it up.