Quick question re: closing a card

[Anonymous]

I would like to close one of my cards that has a $99 AF before the fee is actually charged (Jan 2011).  Would it be wise of me to do so if there's still a balance left to paid or should I pay it off first?  I can't PIF right now so that's why I'm inquiring.  My scores are decent and I don't want any negative reporting.

Thanks in advance.

[ArisGreek]

From what I understand and what I've seen on this board, they tell you to always pay in full before you close an account.  Maybe it's wise to keep the account for another year? It'd help the AAoA depending on how long you've had it. Perhaps others could provide additional info?

[MarineVietVet]

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@Anonymous wrote:

I would like to close one of my cards that has a $99 AF before the fee is actually charged (Jan 2011).  Would it be wise of me to do so if there's still a balance left to paid or should I pay it off first?  I can't PIF right now so that's why I'm inquiring.  My scores are decent and I don't want any negative reporting.

Thanks in advance.

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It is better to have a zero balance before closing any card but to save that $99 AF it might be worth it. Here is an excellent thread about Closing Credit Cards.

BTW it won't affect your AAoA by closing an account. The account will still report for up to 10 years after closing.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[Anonymous]

Thanks for the feedback everyone.

[Anonymous]

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@Anonymous wrote:

I would like to close one of my cards that has a $99 AF before the fee is actually charged (Jan 2011).  Would it be wise of me to do so if there's still a balance left to paid or should I pay it off first?  I can't PIF right now so that's why I'm inquiring.  My scores are decent and I don't want any negative reporting.

Thanks in advance.

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Do you have any balance transfer offers on any of your other cards? If so, I would BT the full amount and then close the account. If you don't have any offers I suggest you call your creditors to see if they can offer you something. I did this with BofA and got 0% til August 2011.

[Anonymous]

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@Anonymous wrote:

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@Anonymous wrote:

I would like to close one of my cards that has a $99 AF before the fee is actually charged (Jan 2011).  Would it be wise of me to do so if there's still a balance left to paid or should I pay it off first?  I can't PIF right now so that's why I'm inquiring.  My scores are decent and I don't want any negative reporting.

Thanks in advance.

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Do you have any balance transfer offers on any of your other cards? If so, I would BT the full amount and then close the account. If you don't have any offers I suggest you call your creditors to see if they can offer you something. I did this with BofA and got 0% til August 2011.

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Hi dizzier - actually this is a good idea and I didn't even think about that.  I will definitely try this!  Thanks!