Hi, my card application online with a 763 credit score was approved instantly, but I got a letter shortly after turning down the 0% balance transfer I had requested due to it exceeding the credit limit I had no way of knowing. I wouldn't have applied for the card without the transfer. Can I cancel the card and apply to another without killing my score?
Well, you can but do you really need it. As I understand you can’t transfer your entire balance on your new balance transfer credit card because limit is exceeding. Then why not to do it in several steps? Transfer just a part of your balance at first, pay it off in short possible time and then transfer the rest of your balance. Any way even if you are not allowed to balance transfer your entire dept, getting rid of just a part of it is already a big plus.
If your decision is firm and you don’t need this card, then contact the credit card issuer and cancel the credit card. Destroy the physical card too. Check your credit report a couple of months later to be sure the cancellation took place and how it affected your credit score. It shouldn’t harm your credit score much though. Your score may temporarily go down a bit but it will come back up.
Other Questions And Answers
-
Currently, the Alaska Airlines credit card has the following offer: “Annual companion fare from $121 ($99, plus taxes and fees from $22) after you make $1,000 or more in purchases within the first 90 days of your account opening”. This benefit will qualify for a round-trip coach Companion Fare on Alaska...
-
You may like one of the regular travel rewards credit cards offered by major banks. Travel rewards credit cards allow earning miles on all purchases. The cards also have one-time sign up bonuses which may be enough for a domestic flight. There are credit offers without annual fees, the other offers come with rather low...
-
The US Airways Premier World MasterCard is no longer offered. US Airways removed their credit card after merging with American Airlines. Today you can apply for one of the AAdvantage credit cards offered by Citi or for a regular travel rewards credit card. Both types of credit cards will allow you to earn miles and redeem...
-
JetBlue still has the one free checked bag perk but not everyone can get it. First of all, the members of TrueBlue program will be able to get their first checked bag free if they've reached Blue Plus level or Blue Flex level, provided the checked bag is under 50 pounds (22.68 kg). Then, cardholders of the JetBlue Plus...
William Colon, money expert. Free credit card advice online.
Read Also Related News
The way you pay for a purchase with your credit card may be very different in five years than it is now. That's because biometric cards - credit cards that scan your fingerprint to prevent...
Tis the season to spend money we may not have on things we may not need. As the winter holidays approach, many kids are preparing their letters to the North Pole and dreaming of the...