My husband has an MBNA credit card from 1995 with a $200 limit, has never been late. Has tried to increase his line over and over with no results. We pulled a worthknowing.com report about 3 wks ago. He has our mortgage never late, his truck to GMAC for $547 a month, never late, Sears card limit is $3000 balance $0, Lowe's limit $4500 bal $1600. So we applied for a Juniper card got $18,000 limit. Applied for an Associates card (Big Sur aka Oak Express) for new furniture got $6000 limit. Requested increase from Sears limit now $9000. He has ZERO collections, ZERO lates and ZERO negatives on his file!! What is up with MBNA??? They won't budge the $200? Should we cancel it?
Oh course you should cancel. It is a useless account compared with all of your other accounts. Less is better with credit accounts. Aim for 2-3. roni
A lot of it depends on why they declined the credit increase. What did the letter say? If it was because of too many credit cards then I would close it. If it stated because of delinquent accounts then you need to dispute it.
Herman, Doris K. also said she had almost that amount tied up in CDs with that bank if I remember right!!!
