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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: New Card? Date:  5/7/2002  10:04 AM
Author:  reverbbrad Number:  125623 of 312185

Should I sign up for a new one that is one of yalls favorites...has a reasonalbe APR, no annual fee, decent credit limit, good benefits, etc?

Keeping an account in good standing with the same company is a good thing. It means that:

a) if you flake and send a payment late or it gets delayed/lost in the mail they will likely waive the late-fee if you call them;

b) in the event that you ever need to dispute a charge, they will tend to be more helpful;

c) it is just generally good for your credit history

Having said that, If BofA is charging you an annual fee, you should call them and ask them to remove it (under threat of leaving, if you need to).

Even if they are not, I would suggest calling and asking them to lower your interest rate, even though you aren't carrying balances. It can't hurt, and it is a lot easier to get them to make changes while you are in good standing. Hopefully, you will never need it. But life takes some funny bounces, and occasionally gets the best of even a prepared Fool (even with an e-fund).

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