Originally Posted by
tassojunior
Actually it lowers your credit with that cc company giving less room for new cards.
It's better to apply for a new card with a bonus and call and have them close an old one and put it's credit line on the new one.
If you're just closing one card it's also better to ask them to put it's credit line onto another existing card you have with them already.
Credit lines with each company build slowly and if you cancel to zero you have to start over with that company if you go back to them.
Chase allowed my wife to move some of her balance from her free Chase Freedom Card to the Continental Card after she was dinged for having too many new cards (two, in this case). So at the very least you can move over some of the CL if you can't convert to a fee card.