Ask Terry Questions Credit card and credit rating

Credit card and credit rating

By Terry Savage on March 08, 2021 | Credit/Debt

We have a credit card that we no longer use. There is an annual fee of $99. I don’t want to damage our credit but also don’t want to pay an unnecessary fee. What is your advice?

Terry Says

Close all unnecessary cards — except keep your longest-held card because it adds to your credit score, history length of credit is a factor.

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