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FooMannChew

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Should I close a credit card that I don't want anymore?
I have a miles rewards card, that accounts for 2/3 of my total credit line, have had it just over 3 years, oldest card is just over 10 years, just opened a new one (trying to build more and get higher scores). Average credit length is just over 4 years.
I want to get rid of it because I don't want to be married to the airline that it rewards me with anymore, i cannot convert it to another card (i have asked them) and it has a $100 dollar annual fee.

Currently i have great credit, i am just about to turn thirty so i have time to recover if i have too.

Since it has a fee, i dont intend on using it, but it does account for 2/3 of total line of credit, should i keep it and pay the $100 per year to have good credit? or close it down and move on?

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Somethings you have to decide yourself

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That’s a great question.  However, the answer isn’t so simple that anyone other than yourself can answer it.  Your score will definitely change as a result of closing the account.  When you close the account most credit scoring models will no longer give the benefit of the account’s age, payment history, or utilization of the total balance.  So only you can decide if that hit is enough to save $100 per year.  But as you say, you are young and the time it will take to fall off (7 years after your last payment) should be easily by-passed with new accounts that better fit your evolving credit needs as you get older.

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Does the lender have a card you are interested in having?  If you apply for a card you want with them, find out if the lender will transfer the available credit onto the new card. I've done this with American Express a couple of times. 

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