Chase Sapphire - canceling a credit card (Posted on 1/8/13 at 12:22 pm)
I have seen some people on this board recommend Chase Sapphire for travel rewards. They offer 40k points if you spend 3k in the first few months etc., but there is a ninety dollar ($90)yearly fee. The fee is waived for the first year. I have heard that canceling a credit card can negatively impact your credit score. So if I apply for the card, get and use my travel points, and then cancel before the end of one (1) year, will my credit score take a big hit, or does canceling a credit card only hurt your score when you have had the credit card for a long time?
tirebiter LSU Fan ATL Member since Oct 2006 5058 posts
re: Chase Sapphire - canceling a credit card (Posted on 1/8/13 at 12:53 pm to jammintiger)
How much available credit is factored in, so it would depend to some extent how high your credit limit would be on the new card and what % it is of your total available credit when you cancel. At the end of the free year you could have Chase transfer the credit limit on the Sapphire card to another Chase card with no annual fee and close the Sapphire.