Author Topic: BA new card, AF question  (Read 500 times)

Offline bookwrm

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BA new card, AF question
« on: February 05, 2013, 01:45:45 PM »
hi all,

a friend of mine signed up and was approved for a new BA card. she got 50k miles bonus. at the end of her first billing cycle she was charged the $95 annual fee. should she cancel the card? when she called chase they said that she can't downgrade the card to anything free, and if she cancels now, which is less than 60 days since the card was opened, it will not effect her credit. is all of this true?

Offline noturbizniss

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Re: BA new card, AF question
« Reply #1 on: February 05, 2013, 02:11:09 PM »
hi all,

a friend of mine signed up and was approved for a new BA card. she got 50k miles bonus. at the end of her first billing cycle she was charged the $95 annual fee. should she cancel the card? when she called chase they said that she can't downgrade the card to anything free, and if she cancels now, which is less than 60 days since the card was opened, it will not effect her credit. is all of this true?
Why not keep the card and spend 20K to get the extra 50K miles? That's worth the $95, and she can cancel at that point. 
Regarding her credit, either the card is already on her report and she got a boost from a higher credit limit (after getting the minor hit for the pull), in which case closing it will result in lower CL and lower score, and she would be in slightly worse position than pre app. Or it was not reported and will not impact her credit (however she is still slightly worse than when she applied).
Is she planning on applying for any other chase cards anytime soon? If she is keep the BA card open and have them move the CL to the new card if the app is denied.
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