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Question By
kiraluv86

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i have a credit card that has a $600 credit limit. i don't use it. but i get charged $8/month.
should i cancel it?

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Top Contributor
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What card is that? I've heard of a yearly fee on some secured cards. What is your credit score? Check Capital One appears to have some good card options. 

Top Contributor
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1136 People Helped

Don't cancel it unless you have really good credit. You never want to get rid of tools that you need to build credit. The eight dollar monthly fee is the annual fee and any other charges associated with the card. You agreed to this when you got the card, I am assuming it is a Credit One or First Premiere card the way it sounds. Suck it up and pay your dues to build credit. Don't cancel!! It would cause harm to your credit!!

Top Contributor
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DO NOT CANCEL CARD

You need to use your card every month for a small purchase and then pay it off at the end of the month.  Buy a tank of gas on your card, for example.  Paying $8 per month just for having the card in your wallet is a waste of money and doesn't help your credit score.

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