On 1/16/2011 10:21 PM, Higgs Boson wrote:
On Jan 16, 6:58 pm, Nate wrote:
On 01/16/2011 09:56 PM, Higgs Boson wrote:

I want to cancel a Visa that I never use (from Bank of America, tfui,
tfui). I searched long and hard on their Web site to find a link, and
finally came across the following:

http://tinyurl.com/48p2qo7

They "threaten" that cancelling a card might lower one's credit
score. ??? Is this true? Or is it a marketing
gimmick?

Your real-world experience valued.

HB

it is somewhat true. you have to have some credit in good standing for
a really high credit score. they also look at things like debt to
credit ratio.

I've heard tell that occasionally using a credit card but always keeping
it paid off every month is the best strategy for keeping ones score high.

That's exactly what I do. I NEVER carry a balance on any of the three
cards* I have ( four, with the new Visa).
They hate people like us, nyah, nyah, nyah.


They just don't like as as much. Since they are still inserted into the
transaction they get to collect the non-trivial merchant fees which the
merchant is not allowed to display.


*of which I was proposing to cancel one. So is the consensus that I
just should let it sit there, unused, rather than cancel it?

HB



nate

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