Want to leave my bank

[BigToque]

I've got a chequing account, 4 year old visa ($11,000 limit with no balance) and a 3 year old line of credit ($15,000 with $5000 balance).

Some problems with my bank have me absolutely livid with them, and even though I would never expect better from any other bank, I want to leave because it's the only way I can make my voice heard as a consumer.

Obviously there is no problem closing my chequing account, but I want to know how negatively it would affect me (my credit score) to be closing such big lines of credit with a few years of history.

Edit: I have enough cash to pay off the line of credit. I don't actually have any debt at the moment.

 

[thegimp03]

I'm not sure how/if it will effect your credit, but an easy way to bypass this would be to sign up for an online account with another bank that offers good interest rates - I.E. HSBC, E*Trade, etc., and transfer 95% of your cash out of the bank you're at now. This will allow you to bypass the subject completely, and you hardly ever have to deal with your bank anymore.

 

[rml]

It will hurt real bad as your debt ratio increases once you closed the other account.

Besides your credit history also changed from 4 to 3. another bad idea

 

[BigToque]

Originally posted by: rml
It will hurt real bad as your debt ratio increases once you closed the other account.

Besides your credit history also changed from 4 to 3. another bad idea

I have enough cash to pay off the line of credit (got a cheque in my hands right now). Maybe if I went to another bank and told them I wanted to transfer over to them IF they gave me similar accounts (10,000 CC and 15,000 LOC).

I don't actually need the accounts, but I want them to build credit history.