Chase just raised my APR..after about 20 yrs as customer..

[ottomobeale]

Everything I have ever seen says canceling an old credit card is a horrible idea if it is a fee free card. Credit bureaus love to see old cards showing current.

That does not mean you actually have to use it more other than to keep them from killing it. I have a Sears card I only use for appliances. Once a year I buy $50 bucks of stuff on it and pay it off within the grace period.

[JC JC Mom]

I had a chase card ( and 2 other credit cards) that were closed because of lack of activity within the last 2 months.. none of my other cards have gone up in APR...

Question - how does someone rack up a card to 30,000.00

[Lusitan]

Originally Posted by desertsun41

Canceling a non collateral credit card actually raises your score by about 10 points.

Desertsun41, can you tell me where you found that information? I have also heard, from several sources, that cancelling a credit card will lower your credit score (although to a relatively minor degree). I thought that sounded absurd, but who knows.

[LynnePatrice]

This just happened to me as well. Never a late payment. It was Citibank that did it to me. I had that card for well over 10 years without late payment and with 3/4 of my credit line available.

I closed that card but probably shouldn't have.

Discover did the same thing to me last week, I'm just going to pay off the balance in full since it's not very much.

I don't understand why creditors are punishing their good customers??? I wouldn't mind if they froze my credit limit or even lowered it but why am I being punished for other peoples mistakes???

[HawaiiLover]

Originally Posted by LynnePatrice

I don't understand why creditors are punishing their good customers??? I wouldn't mind if they froze my credit limit or even lowered it but why am I being punished for other peoples mistakes???

This is the question I asked to the supervisor I spoke to at Chase. I went through everything I do right with the account. That's when she told me to hold on, she comes back with 3 considerations for me. I chose 7.9APR for two years.