• Bruce

    Your tip for canceling a card by holding out until the annual fee is due to maximize your score because of age will become moot once the card is cancelled/closed. Closed accounts don’t count towards age of credit, only opened accounts. If you have one card with no annual fee that you had for years, never close the account. Stick it in your drawer or safe and keep it open.

    If you have an excellent score (760+), you will find success in negotiating with your current CC companies on limit increases, and interest rate reduction. As already mentioned, interest should not be a big factor if you don’t carry balances and you should avoid carrying any balances.

  • david M

    I HAVE excellend credit, BUT, have never had to negotiate a limit increase as they always come with balances of $15,000 -$25,000.

    Chase has started issuing cards with no “Foreign Transaction Fees” – I used the priority club card on my last trip and the rate was the bank rate plus no 3% fee – nice money saver.

    I continuously, open and after a year close accounts – mostly with Chase. I have received the United Card about 5 times, Marriot 3 times and Priority Club 2 times – always large sign-up bonuse and I have never paid an annual fee.

  • http://www.moneybeagle.com Money Beagle

    We usually keep an eye on our purchases to match the cycle. If we’re in a month where the balance is low, I might go fill the gas tanks up before the cycle closes, conversely if our balances are high, I might wait a day or two until we’re in a new cycle. This helps keep things on a pretty even keel versus lots of ups and downs.

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