- Jul 31, 2009
- Reaction score
First attempt was not successful. Feels a little weird to do this too so I think I was studdering.Yeah, I have 13 cards. I don't pay almost anything per year. If I do, I product change to a free card where possible. If it's not possible, I cancel. Doesn't effect credit much at all (hit after 10 years when it drops off your account - both bc your average age goes down, and bc you get a ding for cancelling - also a small hit at first because your utilization amount lowers so your total utilization goes up a bit).
Let me know how it goes when you call to get a retention offer. Some DP's are currently saying the standard offer is 20k points to stay with the card. If you're utilizing the 300$ credit, then the extra 20k points gets you closer to a net 0 total fee.