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11 Months after your airline credit card is issued

11 Months after your airline credit card is issued

Old May 25th, 2007, 06:30 AM
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11 Months after your airline credit card is issued

Just called Master Card to cancel my AA credit card. If I kept it one more month, I would have had a $75 yearly fee. They offered me 3,000 in frequent flyer miles if I kept it. I still declined. It really doesn't make sense to have three credit cards. When I travel, I have two credit cards which I keep in two different areas. I also carry two different debit cards in two different areas.

So, after 11 months, call them and tell them you want to cancel your card. When they make you an offer, change your mind. You won't get a snack pack or a free bottle of wine, but I could of had 3,000 miles.
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Old May 25th, 2007, 06:40 AM
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Be careful when you cancel a credit card....That monthly fee just might be worth it, if cancelling the card will have an impact on your credit score.Unless you dont care about your credit score.Oh my stars! I'll have a Tangerine Mojito, Wally, it's coctail time in Moscow!!
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Old May 25th, 2007, 06:46 AM
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You're in Moscow? Ride the subway. That was the most interesting experience I had there.

Yes, my credit rating is pretty good. House is paid for, car is paid for. Unless some kid knocks on my door and says, "Daddy," I should be fine.
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Old May 25th, 2007, 06:52 AM
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No not in Moscow.I just mentioned about cancelling it because as I was checking out of Target on my way to Wallmart the other day, the cashier asked if I'd like to save 10% on my purchase by applying for a Target Red Card.In trying to be nice to the cashier, I was seeming to be reluctant.As I was leacing the store, the customer who had been ahead of me was just outside the door.Since I am young and obviously dont know much about finance, the lady very kindly greeted me and informed me that every time you apply for an instore Visa or MasterCard, you lose 20 points on your credit score.Seems like the Credit Bureau Czars simply dont like instore credit cards.Well, at least I learned something new.
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Old May 25th, 2007, 07:03 AM
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Whenever you cancel a credit card, ALWAYS tell the card issuer, as part of the conversation that you wanted it noted in your files that CARD WAS CLOSED AT CONSUMERS REQUEST

It makes a difference on your rating from the eyes of future credit offers.

However, opening and closing credit cards in and of itself can be seen as a problem. It may look like you are "kiting" credit cards -- getting a new card to pay off an old card to get a better rate or other perk. Too many of those gets the potential credit grantor reason to be a bit more careful.
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