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credit card fee question?
Paid off all credit cards in full .. now being advised that I should cancel them to avoid being charged inactivity fees as we wanted to hang onto them for emergency use only and to increase our credit rating .... comments please ... thanks in advance
Co-worker advised .... but he's upset that I paid off several bills with my tax refund while he bought toys with his
2 Answers
- Go with the flowLv 78 years agoFavorite Answer
You need better friends if they told you this.
I have never seen a credit card with an inactivity fee.
Not unless you have one of those nasty cards like Vanguis or First Premier Bank.
Keep the account open if it has no annual fee.
Wait for a statement that states $0.
Then, use your card for gas and pay in full each month.
This avoids interest and maintains beautiful credit.
Never dare carry balances again. It can only can damage credit.
- ?Lv 78 years ago
Who advised you that? An inactivity fee is not common. Is the CC company telling you that they will charge an inactivity fee, or is this a "friend"?
Some CC companies will close inactive accounts, thought.
Here's the solution. Every other month, buy something with the CC that you would have bought anyways, and then pay the bill in full.
