Originally Posted by
themicah
If you've had it for a long time and care about your credit score, you might want to just do a product change to something without an annual fee so the average age of your accounts and your total credit available don't decrease on your credit report. There is a Citi AA "MileUp" card without an annual fee that I think you can change any Citi AA to. It's not a great card, but it costs nothing to keep it.
Canceling a card, even your oldest one isn't going to tank your score. People have so many misconceptions about this. We've each had probably 30 cards over the last 10-15 years and we have both
canceled all but
one card for each of us. Our scores still range from the high 700s to low 800s. We have no mortgage, no car payment, owe no one a single cent. One card and that it's -- scores are still amazing.