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skasports

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Closing a credit card account
I recently received a credit card with lower interest than my old card, and no yearly fees. I closed my other account with a 5 year history with 48 reportings a year. It was a 250 limit. My present card is a 1000 limit soon to go up to 1500 with 4 more payments on time. Is it wise to pay the 200 in fees if it only raises my spending limit by 250?

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first you state you already closed an account you had your 5 years....if this was your FIRST CARD despite yearly fees its a bad idea to close it right away because you start your age of accounnts back at 0 years which will crush your credit score keep paying the fees and leave the old card open for 2 more years using it once every 6 months one a sandwhich and bag of chips for lunch closing that account now will crush your score DON'T close it

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