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soughtseven

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2 Credit Cards with Annual Fees, Can I close without hurting my credit?
Have 2 credit cards each with an annual fee. I really only use the 1 card now, so it doesn't make sense. I can apply for 0 annual fee cards now because these 2 cards help build my credit, but I don't want to hurt my credit further, because it's where I want it right now.

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It does make sense if you are concerned about building and maintaining good credit, you need open and active accounts to build a good credit profile. If you close one of the cards, you will cause harm to your credit. If you insist on closing one of these to find a card without an annual fee, get the new card first before cancelling one of the old cards, because the ding from closing one may possibly hurt your chances of getting a better card. You didn't say what the annual fee is, but look at it this way: a small annual fee from a card that helps your credit may save you money if having that card helps your credit and helps you get better interest rates on upcoming lines of credit.

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