Jase32 wrote:I got approved three cards from PacSun, Express, and JCrew. So I'm wondering how much would my monthly bill be with a 25% APR and 0.6% Daily rate?
Also could I cancel any of these cards(like PacSun) and return the credit remaining to the lender? I spent some already on PacSun but their clothes are not for me(I'm 32) so I was wondering if I could return the card and credit to them and pay whats left over in installments.
I'm just gonna be blunt. You clearly have no idea how to use credit cards. Why did you apply? With that out of the way:
Your monthly bill is however much you put on the card. If you didn't use the card at all, you owe nothing. If you used the card, you owe whatever amount was charged to it. If you do not pay the bill on time and in full, you will then owe the balance PLUS a massive amount of interest based on the APR and fees they charge.
Yes, you can cancel the cards. Be aware that opening three cards at the same time and closing them shortly afterward will impact your credit score negatively for some time.
You do not "return" a credit card to the card issuer. You cancel the card. When a card is closed (cancelled) - as long as the bill is paid off - that is the end of your relationship with the issuer. The issuer will need to be paid in full before the card is cancelled.
If you do not like the clothes you bought then just return them to the store.
One last piece of advice: don't sign up for another credit card until you have a better understanding of how credit works. This forum is here for you to ask any questions you like and we will try to help you as much as possible.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).