cougarguard.com — unofficial BYU Cougars / LDS sports, football, basketball forum and message board  

Go Back   cougarguard.com — unofficial BYU Cougars / LDS sports, football, basketball forum and message board > non-Sports > Finances

 
 
Thread Tools Display Modes
Prev Previous Post   Next Post Next
Old 11-11-2008, 03:18 PM   #1
TripletDaddy
Senior Member
 
Join Date: Oct 2007
Location: Orange County, CA
Posts: 9,483
TripletDaddy can only hope to improve
Default Credit Cards and FICO score

I don't have a bunch of credit cards. I have never been huge on amassing loads of cards....In fact, I only have 3.....and one of them isnt in my name, as it is provided by the firm for T&E, so it doesnt even show on my credit report. We don't do department store cards, either.

Focusing on my 2 "real" credit cards......

1. My credit score is fine. It isnt over 800 like some, but still just fine (above 700). I'd like to keep it that way.
2. I have had both credit cards for about 8 years now.
3. I know that closing an old account can actually hurt your credit score

Here is where I need the guidance. One of the cards has an annual fee attached to it as part of a rewards program (airline miles). However, I almost never use the card and don't really care about the miles rewards. It is a waste to pay the annual fee, but I dont want to cancel.

Assume that the credit card company offers a no-fee credit card, sans rewards program. If I switch from my current card to the new, no fee version, does that constitute "closing" my account and will it ding my FICO score?

I called the company to ask but the customer service rep said that they do not comment on credit scores. I guess I could call one of the Big 3 and ask how they calculate, but does anyone here have experience with this?
__________________
Fitter. Happier. More Productive.

"Everyone is against me. Everyone is fawning for 3D's attention and defending him." -- SeattleUte
TripletDaddy is offline   Reply With Quote
 

Bookmarks

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT. The time now is 08:46 AM.


Powered by vBulletin® Version 3.8.2
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.