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susantara

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I have a credit card with an annual fee of $220. If canceled what would this do to credit score?

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I would definelty call that credit card issuer and ask them to either waive the yearly fee or atleast drop it down to well under $100.  That is an outrageous fee!!  If they refuse to waive or drop the yearly fee tell them you will be closing the account.  In my opinion the slight drop you will take in your score is well worth the annual savings of that $220.  There is no justification in a bank charging that kind of annual fee! 

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