Quick question for the MT.

I am considering canceling a card that would raise my credit utilization percentage from 4% to 5%. Is that going to negatively affect my score at all?

I may consider keeping the card if Citi decides to help me out with waiving the annual fee, but I just want to know if I should cancel it should they decide not to give me any deals.

Thanks in advance!

Edit: Did a little more research online and I don't think this will affect my score. I called to cancel and sure enough, Citi did not want to retain me for any good deals. My utilization rate will rise about 1%, so I will report back if I see any changes in my credit score.

This post was edited on 9/4/14 at 1:46 pm

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Posted by AnonymousTiger

Franklin, TN

Member since Jan 2012

4863 posts

Posted on 9/4/14 at 1:29 pm to TigerRob20

Dem titties

Sorry, can't help with your question.

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Posted by TigerRob20

Baton Rouge

Member since Nov 2008

3732 posts

Posted on 9/4/14 at 1:29 pm to AnonymousTiger

Thanks for the post

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Posted by LSUFanHouston

NOLA

Member since Jul 2009

37042 posts

Posted on 9/4/14 at 4:00 pm to TigerRob20

I don't think a rise from 4 percent to 5 percent is going to have much of a hit. The other issue would be if the average age of open account goes down, that again might be a small hit.

But I don't think paying an annual fee on a card you don't use is a good idea either.

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Posted by TigerRob20

Baton Rouge

Member since Nov 2008

3732 posts

Posted on 9/4/14 at 4:16 pm to LSUFanHouston

The average age might actually rise and this card was relatively new (last 2 years).

I'll update the post if needed.