Re: Question about cancelling my first card.
02-23-2011 05:24 PM
So a year ago, I started my first card, which was a god awful "gold" Best Buy Reward Zone Mastercard.
The Limit was/is $100, and there is a $39 annual fee.
Now, a year later, I have been able to expand my cards (Amex PRG, Citi ($4,000 limit), etc. So I would like to cancel that mastercard.
My question is, if I cancel it, it wills tay on my Credit Report for 10 years right? If that is the case, isnt it true, that It wont affect AAoA for ten years (in which time, a $100 card pry wont be a huge deal).
If its not gonna affect my AAoA for ten years or so, then ill close it.
[Edited to remove personal information]
It is true.