Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
jkrdh55

0 Contributions
0 People Helped
What happens if I close a credit card that has an annual fee

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
11672 Contributions
4496 People Helped

You joined a year before I did so should have read the articles here to learn how credit works and how to build your score.  I advise doing so right away since the information is valuable and is not taught in any school.  I know because I learned more from this site than anywhere else, including my accounting and business classes.

If this is your only card, your score is going to take a big nose dive at closing this card so you might want to get at least one other before closing this one.  As you will discover while reading the articles, the more availabe credit you have, the better.  Then closing this one with the fee will cause a bit less damage.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.