@heygirlhey wrote:Hi Everyone!
Just recently (this week) I was approved for a Chase Freedom & DiscoverIT card. Judging from a lot of the posts on these boards its time to cancel the CreditOne card. My question is how soon do I cancel? The annual fee for that card will be due in APRIL. Do I need to wait until the Chase and Discover are reporting or is it ok to cancel it now? If I wait until the 2 new cards are reporting it might be after the annual fee is due at which point I might as well hold onto it since it will help my AAoA, right?
My goal is to strengthen my credit and get a travel reward card soon.
Please advise.
I would not cancel until the AF comes due the new accounts will most likely be on file by then, AAoA is not affected as it will stay up to 10 yrs post close, utilization is the category that is immediately affected, if its in order then go ahead an cancel I dont like paying fees either.
