Close account with 25% APR?

I have a VISA with $4k limit and $0 balance. I have had this credit card account for 5 years.

But the APR is 25%!!!!!!!!! They refuse to %26quot;negotiate%26quot; the APR and even laughed at me and sent a letter afterwards repeating this.

It seems like they couldn%26#039;t care less about me. So should I close this account?

Close account with 25% APR?

If you pay it off each time you use it then the APR does not apply to you. If you use your visa and carry a balance then yes do close it out as it is not a card that is good for you.

Close account with 25% APR?

Credit card offer such a flexible borrowing structure they need to charge higher apr%26#039;s.

If you pay on time they make nothing so whats in it for them?

If you can get a better apr then carry on.

If you have the card for emergency%26#039;s but do not intend to use other wise then keep it safe till needed.

Close account with 25% APR?

7 tips to improve credit score

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5. Don t ever close an open credit card account. If you pay off a credit card down to a zero balance, leave it open. Remember that a positive factor for your credit score is how much available credit you have at your disposal when compared to your credit balance, in addition to the length of your credit history.

Close account with 25% APR?

If the balance is at $0 the APR does not effect you at all. If you charge and pay it off every month, the APR does not apply to you.

So, if this card is not costing you anything, such as an Annual Fee there is nothing wrong with keeping it open. However, closing it could cause your Balance to Limit ratio to rise or lower your average credit age. Both of these things could lower your credit score.

Now, if the card is costing you something to keep open, you have to take a look at your overall situation. If you are looking at a major purchase where a drop in your score could hurt your chances. Then it may be worth this cost to keep it open. If you have no need for credit and your score is fairly good you may be able to absorb any hit to your score.

Close account with 25% APR?

Start looking for a new account but do not close this one.unless it has an annual fee. Then once every six months charge $10.00 on it and then pay it off as soon as your get the bill. Do not charge anything else on the card. It will improve your credit score and piss them off to carry the account.

Look for an account with lower interest and no annual fee.

Good Luck