General Credit Topics

[qwerty11]

I don't know how the credit system works so maybe somebody can help. I am wanting to cancel my credit card that doesn't have any good beneftis (zero ballance) and get one that does that I like. I was wondering if there is a certain amount of time I should wait after canceling the card before I apply for the other one. Didn't know if those changes are reflected in credit report instetaneously, or it takes some time. 

Thanks!

[AndySoCal]

I would apply and get the card you want first.  If the card you have does not have any annual fees I would consider keeping it open. One it does not cost you anything..  Also, you the account  couple times a year  to keep the account active.  Doing so will continue to help build your credit history. Also you have a secondary card  just in case something unexpected happens. I am doing a similiar thing with one of my credit cards I use 3 or 4 times a year for a small purchase.

[wallyworld123]

welcome! + 1