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Ben

Question 100

Discussion in 'questions. answers. conversations.' started by ILDC, Jan 6, 2015.

  1. ILDC

    ILDC Reader

    Hi Lucky,

    I'm very tempted to signup for the US Airways/Barclays 50K miles Credit Card based on your suggestions (I'm not a churner), but I'd like to know if cancelling the card before payment of the annual fee will affect my credit score? My research seems to suggest that it will affect credit score, albeit temporarily.

    Two questions:

    1) Does canceling a credit card affect credit score? Is it temporary?
    2) Is it possible to request a smaller CL upon signup so that credit utilization isn't as impacted?

    Thanks in advance!
     
    #1
  2. Lucky

    Lucky One Mile At A Time

    Messages:
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    @ ILDC -- The algorithm for credit scores is quite complicated, but average age of accounts and the request for credit would slightly impact your score. Having a higher credit limit shouldn't make a difference if you're not spending anything on it, since it will keep your utilization low.
     
    #2