Closing credit cards?
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|Fri, 08-27-2010 - 3:52pm|
Today I woke up $3600.00 less in debt than yesterday. A family member generously offered to pay off my personal credit card debt and is also putting a similar sum down on a mutual card of my hubby's and mine. We made a major move a couple years ago for a job and lower cost of living. Unfortunately my hubby's pay was not what it was supposed to be and we have been sinking.
Anyway my question is really about closing credit cards. I fell behind on my cards the last 4 months. Some have already been closed. Of the ones I have open 2 are Capital One. The were my very first cards and both carry annual fees. For a long time they were waiving those but when the economy began heading south they stopped doing that. In general they have been AWFUL about everything. They refused to waive fees so I could get caught up. They have been calling 20+ times a day PLUS calling my kids and hubby's cell phones. I have no idea how they even got the numbers.
I want to cancel them. How bad is this going to hurt my already injured credit score? I have heard you should never close a card?