<p>i have two credit cards. one is the reward points card, and the other is a regular one. of course, i use the reward points card much more often. in fact, i almost never use the other one. i just keep it because i've had it first, so the credit line is higher. anyway, i hardly use that card, and i still get charged a large amount of money. and this month, that amount just doubled! i'm looking through my online account, and i can't find a single transaction under that card, yet i'm still getting charged so much. i don't remember having to be charged if i don't use that card. i don't know what's going on. the bank is closed now, so i can't go and harass them. but i thought i'd post this for quicker answers. does anyone know if bank of america charges a cancellation fee for closing their bank account/credit cards? i really hate that bank. any recs for a better bank? (not considering wamu either)</p>
<p>You shouldn't get charged for closing your account; it's your money to do what you please with. If I were you, I'd get rid of the regular card ASAP. Why do you need a true credit card anyway? My check card serves the same purpose and I don't have interest charges, mysterious fees, or monthly bills to haunt me. Once I pay for something with my check card, it's paid for and I can forget about it.</p>
<p>lol. now i feel like a jackass. i called them and it turned out they kept trying to return money to me, but it looked like a bill, so i kept paying. just a misunderstanding. admin, please delete this topic. ><</p>
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My check card serves the same purpose
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<p>it builds you credit, does it?</p>
<p>I got ****ed that BoA was selling my personal information without my knowledge or permission (I found out about it when I found out they got sued for it), so I withdrew all my money from that bank and kept the account open. They can keep paying money to maintain my account, but they won't get a dime of my money to reinvest. That's how they make their money; they take your deposits and invest them.</p>
<p>so where do you bank now?</p>
<p>haha..........great.....</p>
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it builds your credit, doesn't it?
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<p>Indeed. I now use my credit card instead of my debit card and then I just pay the credit card bill online with my debit card.</p>
<p>Chase. Not proud of it, but I only did it for $15. I'm switching to Citibank, not that they're any better. But at least they don't go around selling your personal info without permission or knowledge.</p>
<p>Hmm. Application of something I actually learned in my economics class, but isn't that how banks make money? Taking deposits and investing them? Of course there's some protection for the bank clients, otherwise why would banks go out of business?</p>
<p>Look for a credit card that doesn't charge a fee, and that gives you rewards. Then pay the bill in full every month, and you win. If you think you're going to run a balance, then look for a card with the lowest interest rate, and forget the rewards. Finally, if you have a card with an annual fee, sometimes they will drop that charge if you call them and ask them to (saying you're considering dropping the card).</p>
<p>yeah, im totally deleting the old card. maybe even the points too. i never seem to have any use for it. i'm thinking of switching to a cash back card. anyone use those? recs?</p>
<p>Get an AmEx (Blue Cash if you have an income, Blue for students if not). They're known for their generous credit lines and stellar customer service. I just got a Blue for Students and with no income and relatively little (but good) credit history, I got a $2200 line with an 8% intro rate that bounces up to 15% after 6 months. Plus I hear they'll bump you up to Blue Cash if after a couple years if you pay consistently on time and stuff. Even if not, Membership Rewards is probably one of the best non-cash rewards programs out there. Or if you have to fly across the country a lot, consider the jetBlue AmEx.</p>
<p>But DO NOT get rid of your older cards. It reduces the length of your credit history and kills your credit score. Just cut up the card and throw it in the garbage or put it in a drawer for a rainy day. They have to spend money to maintain your account, but they're not getting a cent off of you. :)</p>
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<p>My mom does the cash back and she loves it. Discover is a pretty good company and you can choose a really cute design for your card.</p>
<p>ps. there is also a "Bank America" scam going around, at least at my school. Call you up ask for your info, which obviously you should never give...</p>
<p>Lots of good pointers here: Don't close your credit card accounts, shop around for a credit card with the best rate and always pay your credit card on time.</p>
<p>Also, be sure to check your mail because some credit card companies will send you a letter in the mail that states they will increase your credit card interest rate unless you "opt out". Sometimes you have to mail in a letter to "opt out". Be on the lookout for any mail from your credit card company. </p>
<p>For more college student credit card tips, check out: College</a> Student Credit Card Tips</p>
<p>What does interest matter if you pay the bill in full every month anyway? Get the card with the best rewards and pay the bill in full every month.</p>
<p>NEVER EVER close a credit card..unless your irresponsible and cant control yourself (overspending)....closing account lowers your credit score tremendously....it affects something called your debt to credit ratio. Which makes up about 40% of your credit score. Just let the card sit there. Creditors view it as more available resources/ you have relative to debt</p>
<p>My understanding is that any bank will sell information about you unless you "opt out". This requires filling out a form, making a copy for your files, and submiting it to the bank. Typically this is in force for 1-5 years (varies bank to bank). Next time you go to the bank, ask about it. This money maker is also done by other companies-such as insurance. Just get in the habit of asking.</p>
<p>what if you don't renew your card? is that bad for your credit too? </p>
<p>wow, i asked a few times at the bank if i could close my credit card. no one told me it's bad for my credit!</p>