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Ben

Credit Cards Credit

Discussion in 'questions. answers. conversations.' started by kevin, Apr 20, 2015.

  1. kevin

    kevin New Member

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    Do you not get dinged when you cancel these credit cards? How long do you typically keep them open?
     
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  2. Tiffany

    Tiffany One Mile At A Time

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  3. Lucky

    Lucky One Mile At A Time

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    Kevin, personally I keep the cards open for as long as they add value. There are plenty of cards I hold onto long term because of the annual benefits they offer just for having the card:
    http://onemileatatime.boardingarea....dit-cards-offer-the-best-anniversary-bonuses/

    Then there are cards I keep open because they're the most rewarding for everyday spend thanks to their category bonuses:
    http://onemileatatime.boardingarea.com/2015/03/19/best-credit-card-category-bonuses-2/

    And then there are some with great sign-up bonuses where I can't justify the annual fee after the first year.

    As Tiffany notes, you don't get dinged for closing a card, per se, though your average age of accounts is one thing which factors into your credit score.

    Hope that helps and let us know if you have any other questions.
     
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