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Question By
seebeezy

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Should I Cancel this Card
I've had a Chase Freedom Card for over two years now. I missed a payment a few months ago and my apr spiked to 30%. The card has a $3000 limit and at the time I was carrying a $1000 balance. Now the card is completely paid off but at 30% I don't want to use it. I have other cards with higher limits that have perfect payment histories and have much lower apr's. Should I keep my Low limit, High rate, Fully Paid off Chase Freedom Card?

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Keep the card just don't use it. Closing it will impact your total accounts, Avg age of open credit lines and utilization. I would recommend setting up a recurring bill on it (Netflix,Hulu,etc ) and not using it for anything else. This will keep it open but won't cost you anything since you would be paying the extra bill you setup on it anyway every month. 

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