Posts Tagged "change in terms"

Closing account when credit card company changes terms

Dear Experian,

We received a “change in terms” notice from one of our credit card companies, increasing our interest from 7.90 percent to 17.90 percent, and from fixed to variable. Which decision will be best for our credit ratings, closing the account or paying it off and keeping it open at the higher rate, but not using it?

– KML

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