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Should I cancel my oldest CC (1 year) with a fee?

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rated:
   posted: Apr. 6, 2008 @ 7:53a
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I have two other cards .....

1--no fee 1month old 3500 l limit
2-- 6 months old fee and they said they might remove it if I call when it is applies. The limit on that card is 400.

I have been told to keep it because its my oldest and I have been told to cancel it as 1 year to 6 months for the 2 cards is not very different. I should also note that the first card is an orchard bank card and as told to me by the cc rep is a starter card which will not reach a high limit.

Message edited by: tallgal80 on 2008-04-06 07:55:06 CDT
   posted: Apr. 6, 2008 @ 7:53a

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rated:
   posted: Apr. 6, 2008 @ 7:57a
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Try to convert it to no fee card, just call the CS.

rated:
   posted: Apr. 6, 2008 @ 8:03a
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Sorry...forgot to mention. I called them yesterday and they cut it in half. From 78 to 39.50. They couldn't promise to do this next year but, said it might be an option.

rated:
   posted: Apr. 6, 2008 @ 8:07a
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Cancel it.

rated:
   posted: Apr. 6, 2008 @ 10:05a
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Cancel it.

rated:
   posted: Apr. 6, 2008 @ 10:17a
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Cancel it.

rated:
   posted: Apr. 6, 2008 @ 11:09a
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Call them and tell them say the following:

1. "If I cancel now, will I get a proportional refund on the $39.50?" If the answer is "No", then keep the card for another 11 months. If the answer is "Yes", then say this:

2. "This fee is too high and I am afraid that I will have to cancel the card unless I can get the fee refunded." If they refuse to waive the fee or convert you to a no-fee card, then cancel it.

rated:
   posted: Apr. 6, 2008 @ 12:41p
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Cancel the card. The cancelled account will stay on your credit report as a positive for plenty of years. By the time it falls off, your no-fee accounts will have plenty of age.

rated:
   posted: Apr. 6, 2008 @ 2:55p
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Definately call to cancel it. Tell them the reason is simply the annual fee - you have other cards with no annual fee so you prefer those. Retentions *might* offer to switch you to a no-annual fee plan. Keep the card ONLY in that case (and not if they offer to waive the fee just once).
What card is this anyway?

rated:
   posted: Apr. 6, 2008 @ 8:32p
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I canceled a four year old card. It does not hurt too much.

Message edited by: rec on 2008-04-06 20:33:41 CDT
rated:
   posted: Apr. 7, 2008 @ 10:20a
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DON'T CANCEL IT!

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