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yambuku

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Possible to change the terms of agreement of a card regarding the annual fee so as not to close it?
After several years with bad credit and having 2 accounts closed on me by the issuers, I applied for a credit card over 2 years ago that had an annual fee of $79. I've been on time with my payments and I'm slowing rebuilding my credit. Karma currently rates me at 660. Although I really do not want to put up with this annual fee any more, I also do not want to close this account because it is my one and only account with only 2+ years. Doing so would definitely lower my credit score. Is it possible to somehow get rid of that annual fee by contacting the credit card issuer and changing the terms of agreement instead? Is that unheard of? I'm thinking maybe now that the company will be switching over to Capital One in the Fall, maybe there is a chance to make some changes.

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Hello!  I don't think it's unheard of at all.  I think it's a really good idea to at least call them and ask.  There is no damage in that as they'll pull your account history, not your credit, to determine their response.  Good Luck!

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