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stagebuilder

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I don't want the New Costco Citi Visa but....
So I had the Costco Amex card since 1995. I had issues with Citi bank in the past. They closed an account I had because I hadn't used it for two month, but sent me a notice giving other unsubstantiated reasons. Anyway, I don't carry a balance on my Amex card and I was wondering if I could just decline the Citi Visa. I have other credit cards with balances I'm paying off. Will declining the Citi Visa really affect my score? Currently my score is good.

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Declining it will probably drop your score because you'll have less credit available.

You don't have to accept it, but it will be an automatic seamless process switching from Amex to Citi. The new card has more perks and will earn 4% fuel rewards opposed to the 3% of Amex as an example. You'll be able to use any Visa at Costco.

I suggest you accept it, and apply for a different Visa with another lender. If you already have a Visa you like, perhaps you can request a credit limit increase to offset closing or not accepting the Citi Visa.

Paying interest is wasted money. Your goal should be to pay those cards off, and don't charge more than you can comfortably pay off every month. If you need a big ticket item such as a new fridge, that's the time to obtain a card offering 18 or more months free financing, and get the card paid off in the interest free time frame.

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