|
|
Transferring Credit Card Balance & cancelling card
[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]
Posted by V.B. on August 03, 2001 at 12:41:45:
I have a Capital One Visa card. It has a very low credit limit($300.00) and they charge me $6.00 a month plus balance fees. I would like to transfer the balance to my Citibank Visa and cancel the Capital One account. Will this have a negative effect on my credit? I have an excellent payment history with Citibank Visa (no late payments ever) and I have no late payments with Capital One, although one time I made a payment online that did not go through and I called and sent another payment immediately. The Capital One account is only 7 months old. I do not want any bad marks on my credit since I am trying to establish/build my credit. I heard it is bad to cancel a credit card, is this true?
Follow Ups:
Post a Followup
|
