Post opt out Credit Card-Chase?
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My husband and I have a Chase Mastercard and our APR has risen to 16.49% I always pay earlier and above minimum, however because of a surgery my husband had w/o insurance this summer they reviewed our credit and decided to triple our rate! I called and the supervisor suggested the only option which was post opt out which means Chase closes the account (with balance) then sets an 8.99% APR on it and we make payments. She said the bureau will state customer requested the closing. Before I accept this, does it post anything bad on my credit like I cut a deal (like the credit consolidating companies?) Thanks in advance for your answers!
Post opt out Credit Card-Chase?No nothing bad will be posted to your credit, the account will simply show as "Closed at customers request" with a balance.
Post opt out Credit Card-Chase?You should NEVER close an actual credit card acct. It hurts your FICO score a great deal! Which therefore means, all your insurance and credit card rates will go up. Whenever possible, just use this credit card once every 2 yrs or so. Keep the acct open. Watch Suze Orman on CNBC. Report It
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