I’m sorry if this sounds like a stupid question as I’m still a beginner to financial literacy. A few years ago I bought a laptop at Best Buy and used their credit card to buy it. I have since paid it off entirely, however, I still have the card. For some reason the card limit jumps between $250 and a couple of thousand? Anyways, since I don’t use it, I just end up owing them like $100 every year or so in fees. I honestly just want to close it. Show
Moreover, I applied for and was accepted for a discover card with a limit of $5000 recently. I want to cancel my Best Buy card, but at this point, it’s my longest line of credit(about 6ish years). I heard that closing a long line of credit can negatively affect your credit score. Is this true? Or should I just go ahead and cancel it?
Enroll in Paperless Statements and LettersTo enroll in paperless for your account, start by reading the terms and conditions below. You are agreeing to receive your statements electronically only and some of your legal notices electronically only. If you do not wish to enroll, choose Cancel and deselect the Paperless Statements and Letters checkbox. Enrollment in Credit Card Paperless Statements and E-CommunicationsWe send cardholders various types of legal notices, including notices of increases or decreases in credit lines, privacy notices, account updates and statements. Currently, we can provide some of these legal notices, including statements, electronically. We are working towards being able to provide all of these legal notices electronically. When we are able to provide all legal notices electronically, we will notify you by email. In the meantime, if you choose to receive legal notices electronically, you will need to monitor both your U.S. postal mailbox and your email inbox for legal notices. To receive your legal notices electronically, your computer must be capable of printing or storing email, web pages and documents in PDF format and your browser must meet minimum system requirements. Minimum System RequirementsYour privacy and security are important to us. That is why we require you to use a browser with 128-bit security encryption to proceed with your application. This protection helps to ensure that the information you send and receive will remain confidential. Getting Paper CopiesIf you choose to receive legal notices and statements electronically and then want a paper notice, call us at the number on the back of your card and we will mail it to you. Cancelling Paperless Statements and E-CommunicationsYou may cancel through account online or by calling us at the number on the back of your card. Updating Email AddressWe will send notifications regarding the availability of your statement online and legal notices to the email address you provided to us until you contact us to change it. It is your responsibility to update promptly any changes in this information. If your email address changes, please update it through Account Online or call us at the number on the back of your card. Credit Card Paperless Statements and E-Communications AuthorizationI agree to receive my billing statements and other legal notices electronically as available. I understand that when I receive an electronic notice it will replace a paper copy. I also understand that I will need to check both my U.S. postal mailbox and email inbox for legal notices until you let me know by email that all legal notices will be sent electronically. You will receive paperless notifications at the email address currently associated with your account. Access this page from your Home Screen.Tap your browser's share button to ‘Add to Home Screen.’
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Your Upgrade is Right this Waynull What to Expect with Your New Upgradenull Device RequirementsWe can electronically provide you the Important Information About Your Best Buy American Express Card Upgrade, Department Stores National Bank Credit Card Disclosures for the Best Buy American Express Card, American Express Credit Card Agreement, and Privacy Notice. To get these electronically your device must be capable of printing or storing web pages and/or PDFs and your browser must have 128-bit security. If you want to request a paper copy of these disclosures you can call My Best Buy� Credit Card at 1-888-574-1301 and we will mail them to you at no charge. Agreementsnull
Email Address PolicyEmail PrivacyAt Citi Cards, we are dedicated to protecting your privacy. We want you to feel comfortable about giving us your email address. The following Email Policy was developed to help you understand how we use email and what your choices are. How We Use EmailWhen you give us your email address, we may then send you emails on a variety of subjects, such as: Your ChoicesWe believe you should be able to choose what kinds of information you receive. Thus, if you do not want to receive marketing material by email, just indicate your preference on your email profile. If you do so, please note that you could continue to receive some marketing information until your request is processed. Important Note:Please keep in mind that Citi reserves the right to continue to notify you by email regarding your account. How do I cancel my best buy credit card?To cancel your Best Buy credit card by phone, call (888) 574-1301. Tell the agent you want to cancel your credit card and provide them with your account details.
Can I close my best buy credit card online?You can cancel your Best Buy® Credit Card by calling customer service at (888) 574-1301. The same goes for the Best Buy® Store Card, too. You cannot cancel a Best Buy® Credit Card online.
Does canceling a credit card hurt your credit?A credit card can be canceled without harming your credit score. To avoid damage to your credit score, paying down credit card balances first (not just the one you're canceling) is key. Closing a charge card won't affect your credit history (history is a factor in your overall credit score).
Does closing a credit card raise your score?In general, you shouldn't close a credit card unless you have a good reason. A credit card cancellation will not improve your credit score, and it won't remove a negative account from your credit report either.
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