Q&A: what to do with high risk credit card “plains commerce”?
Tuesday, February 7th, 2012 at
2:42 pm
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Tagged with: card • commerce • credit • high • plains • risk
Filed under: Credit Cards
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It is hard to say without knowing what outragous means to you. Likley I would suggest you keep only the one with the longest and best credit record, cleanest record being more important. If however you have had some sort of a better no fee card for atleast 2 years and you are not planning a major financed purchase in the next several months I would cancel them all. It will hurt your credit but you can rebuild that loss over time and if they are charging that much there is no sense in paying the cards extra so you can save a little on financing something else. I think it is ok to keep one card that charges as much as $ 100 annual fee if you do not have other credit for about 2 years but you need to work towards only having no fee cards.
I Know how you feel..I have a card from them as well. They are big time losers. What I am planning to do is pay them off, cut up the card so I don’t use it, and just have the balance at zero. Once you pay the card off,and get to zero balance your credit score should go up some. Sometimes canceling a card could hurt your credit score, so I’m just willing to sacrifice and pay the annual fee. That is better than having a balance month after month.