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Please help: Need credit card advice!!!!
Hi, all-
I recently just checked my credit report and found out that my credit score has gone up significantly over the past few months (woohoo, I love meeting goals!). My situation is for the longest time I've had so-so credit, and therefore, had to get two credit cards with low limits ($300 each). Both cards are paid off; however, the problem is they charge me a monthly fee of $7.00, even when I have a zero balance! On top of that, they will charge me a $49 annual fee, which will come in February next month. I called to see if they could remove the fees, even with more score increase, and all they could offer me was a credit limit increase--still with fees!
I, personally, do not see the point in having to pay these fees with a zero balance, so now that my credit scores have improved, I have reapplied for a different bank's credit card & was approved for a $1,000 limit (no monthly or annual fees, no interest for 15 months). I do not plan to use the card; my main goal is to have a low credit utilization.
My question is if I close the other two accounts (the ones with the low credit limit & monthly/annual fees), will that negatively affect the aging of accounts and make my score go back down?? I am terrified of this happening, as I've worked so hard to get where I'm at now and don't want to see a lower score again. I am planning to buy a house within the next year, and so it is pertinent that I keep good credit health.
Should I close the accounts charging me, or will that put me back in bad shape?

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Others might have different take but If I was in your situation? I would close them in a New York minute. They are past their usefullness. Yes, your score might take small hit but they will recover in few short months. In FICO's scoring systems? They do factors in your closed account into your Age/Average Age Of Credit, so no worries there for next 10 or so years. I probably would get one or two more credit cards before I close those cards with high fees, then stop apply for credit for 6 months to a year to let new cards age and have time for my score to recover.

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I will go along with what JohnnyRain said ONLY if you get one or two more cards prior to closing these cards (as he said). Whatever you do, don't just close the cards, that would NOT be a good thing for your credit. You need mulitiple accounts for credit building that are OPEN and ACTIVE!! Use at least one credit card every month to show revolving activity, you do not have to carry a balance over, but let a small balance report on one card, less than ten percent of the credit line on the card.

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