close CC with very large LOC

[Anonymous]

I want to close a $0 bal Citi AAdvantage MC because it cost me $50 annually and i only use it a few times a year just to keep my air miles active. I have other cards that I use daily but the the AAdvantage card has a $21,000 LOC which is double my other cards Citi, Discover, AmEx. Also my son exclusively used my AE card but his wife was not so good in always paying it on time. It has had a $0 balance for the last year and they no longer uses it. The only card I pay a fee on is the AAdvantage card. I carry no balance on any card and have excellent credit. Is it worth the $50 to keep it to maintain my excellent score? I have no personal income but a decent household income (at least while my husband is alive). Thanks

[Anonymous]

Ohh is oh....so worth keeping this card. it's less than 5 bucks a month. come on!

I would cancel all the authorized users on this card saying to them that you will close the accoun....but don't. Keep it in your sock drawer and use it once every 2 or 3 month and PIF. This card will help keeping you overall time lenght of the history and Utilization % which FICO gods love so much. Not to mention that the credit line is something most people at least on this forum can only dream of!

Good luck.

[Anonymous]

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misundaze wrote:

I want to close a $0 bal Citi AAdvantage MC because it cost me $50 annually and i only use it a few times a year just to keep my air miles active. I have other cards that I use daily but the the AAdvantage card has a $21,000 LOC which is double my other cards Citi, Discover, AmEx. Also my son exclusively used my AE card but his wife was not so good in always paying it on time. It has had a $0 balance for the last year and they no longer uses it. The only card I pay a fee on is the AAdvantage card. I carry no balance on any card and have excellent credit. Is it worth the $50 to keep it to maintain my excellent score? I have no personal income but a decent household income (at least while my husband is alive). Thanks

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I am one of the biggest haters of AF that you will ever meet, but I think even I could tolerate $50 annually for a $21000 LOC. Before I closed the CC, I think I would call and ask if they would consider waiving the AF. Sometimes CCC will work with you on those, especially if you are a long standing customer.

[VLGaffEsq]

Please DO NOT close this very generous credit card down simply because of this $50.00 yearly fee!  Call and ask to have the fee waived, in the least, but this card is easily paving the way for an extremely low utilization rate with your 'available credit' and keeping your FICO score very high.  You would be a fool, creditwise, to cancel this credit card account.

[Anonymous]

This is a hard decision. I totally understand that you don't want the fee. But this is a huge CL and I would keep it.

Like the others said, ask them to waive it. It's not like it's and HSBC card w/a 59 AF and a limit of only 300.