Chase closed your account to new purchases. So, keeping a balance will only incur interest charges. You can no longer use the card. So just pay off the card and tell them all to shove the cards where the sun don't shine. You and everyone else wil be much, much better off without credit cards. Besides, some banks are charging annual fees up to $99 (BofA) on some accounts to see what their customer's reaction will be.
Wouldn't it be wonderful if EVERYONE dumped their credit cards and went to cash only (except for cars and home mortgages). The banks would not have any measuring stick for FICO scores other than car loans and mortgages. Their credit measuring system would collapse.
I pay my balance off every month and Chase just raised my APR to 51%. It doesn't matter because I pay it off but it was a shock just the same.
Yea I agree about our President. So Democrats and Republicans are for the corporations. What party is for the middle class?
It is pointless to leave a balance because the credit card company can close your credit card or lower your limit at anytime even with a balance. You should definitely pay the card off to avoid paying interest and if they close your account then take your business somewhere else.
Pay it off if you can.
If they have plans on closing your account, it isn't going to matter if you leave a $50 balance or a $0 balance.
credit card companies are now trying (and doing!) to charge people for paying off thier credit cards! because if you pay it off every month they don't make any money. so now they charge you a fee for paying it off! leave a small balance.
Just pay the balance and be done with it. And by all means, close them.In about 2 years, the banks will start offering credit cards again because they're not making enough money off consumers. You just can't win.
You shouldn't be paying any interest on your credit cards because you shouldn't be carrying a balance.
If you need a loan, go get a loan at a bank.
Credit cards are the spawn of Satan.
Pay them off, cut them up, and never look back.
they will close it whether you have a balance or not. Pay it in full and avoid the interest.
You need to pay it off completely. If you carry a balance you are paying interest on that balance.
The reason they are jacking the interest rates on the credit cards is because after the new credit card laws go into effect they will not be able to do this. They are trying to get the rates as high as they can before the law that will stop them goes into effect.
If you pay off your balance there is a chance they will reduce your credit limit as they have done to thousands of others. As long as you use your card they shouldn't cancel it unless you are not in good standing with them. You could use it every now and then and just pay the balance in full every month.
My Sears card was canceled because I didn't use it enough. The only way I even found out they had closed the account is I called to tell them to close it and they informed me they had already closed it due to inactivity.