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TenThirtySeven

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Closing a credit card account with a 0 balance. How will that affect my credit score.
I'm being charged $8.79 a month for a annual fee whether I use this card or not. The account has been open for about 8 months or so. I have 100% on time payment. I just paid it off. If I close it, how will this impact my score? I have 10 other cards with excellent credit lines. Please advise..

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you will take a ding when you close it,  not sure how it will affect yout average age of accounts. If it was me I would close it,  but thats me,  I would never be sucked in to a monthly service fee.   I have one Secure Credit Card from CapitalOne that I pay a yearly fee of 29.95 ( I think ) once a year.  other wise I don't use it but 2 or 3 times a year for Hulu when I activate the Hulu account.

Top Contributor
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Any time you close a good account it will cause your score to drop a bit (can't say how much).  However, if I were you, I'd close it anyway rather than pay that annual fee.  

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