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Posted in Credit Cards
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Question By
deputymcgahe

2 Contributions
1 Person Helped
I have CC charging 200 dollars a year for maintaince fee! If close cc and open cc will it lower CS?
Will closing the card that only balance is 12 month maintince fee then charge 10 dollars for payment of credit card no matter how it is paid over phone, by Internet or mail payment still charge 10 dollars. So I am paying 20 dollars a month and this card has zero balance besides there fees! I know if I close account it will impact my score but how bad will it impact score? And if I open new CC it will do a hard pull impacting score! What is my best bet to do here?

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Top Contributor
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Impact depends on how closure affects your utilization.  You can do the math before and after to determine impact to utilization.

It's not just the hard pull.  Opening a new account will reduce your AAoA.

Best bet is your call to make.  If you don't want this card and need a different card then you will need to apply for the new one and close the existing one.

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