Drop a credit card
I have a Southwest credit card that I’ve had for over 20 years, I would like to close it because there is $100 annual fee and they’re changing how miles are treated. Will this affect my credit score in a bad way? Thank you
Terry Says
Only if it is your OLDEST card. That does impact your credit score. Get your credit report at www.AnnualCreditReport.com — choose one of the three bureaus– and it will show you all your credit cards, and the length of time you’ve had them.
PS I don’t think that Southwest is changing the way you use points (I have over a million!) — just changing their seating and baggage policy (which is bad enough)!
PPS If you aren’t planning to get a mortgage, get new insurance, buy a car, etc — the drop in your credit score from closing your card shouldn’t matter that much anyway.
