I'm very proud of myself.
A couple of weeks ago, I applied for another credit building credit card. It's one that has no APR for the first six months, and frequently reviews my account. The credit limit only increases if I pay on time and above the minimum. It's perfect because it's actual credit, but with strong boundaries...which is exactly what I need.
Anyway, the card came today. As I was reviewing the paperwork, I read that there was an annual fee. I don't know if I missed that before I applied, but if I activated this card, I would be paying the company $40 a year just to have the card. My limit was not that high and it's not even a rewards card!
What fueled my flame was the fact there was another credit card offer from the same company! that offered me the same card...with no annual fee! I figured that if I was being offered a no fee card, they could change the one I've got.
So I called the company to see if they could remove the fee. I was very nice and explained to them that I was very interested in being a customer, but that I wasn't down with the annual fee. They transferred me to a manager and tried to wine and dine me with all the advantages of the card. But I knew I was good enough for a no-fee card, so I wasn't going to settle.
At the end of the day, I cancelled that account without authorizing the card. It was hard because I could have really used it. But I made myself think long-term and I realized that I didn't have, no...didn't want to have $40 in my budget for having a credit card.
After I cancelled, I went online and applied for the no-fee card. I got approved...it's coming in two weeks. I hope that having a cancelled card doesn't really hurt my credit, but I really didn't want that card. Now I know to read everything and pay attention of what's not written.