Closing my Credit Card? I have a credit card right presently and no balance at adjectives

I have a credit card right presently and no balance at adjectives (clean) - but it has an annual levy (Bank of America). Bank of America upgraded my credit card with no annual allowance just few days ago (but I never activate it yet). But then, I only received a better offer from another credit company. My quiz is: If I close my Bank of America credit card with annual duty, it will be negative on my credit points? I of late paid my annual excise 3 months ago and I'm still using my old BOA credit card. So if I close my BOA card, I own to pay for my 3 months of usage instead of 12 months? Thanks! You said that BoA upgraded that card to no annual fee? If so, hang on to the card and activate it. BoA should return your fee. If they don't, contact them and request a excise refund.

If BoA did not upgrade that card but issued you a totally different card, you should request that they "upgrade the first card or you will close it"

Actually, closing the card depends on how long you enjoy had it.

Closing a card that you hold had for awhile will drop your score. But, they will rebound after 6 months or more.

Other Answers:
They may proposition you a pro-rated refund, but I can't promise this.

Opening and closing cards can affect your credit rating - if you can, hang on to your BofA card and still open the other one. Just put the BofA card away somewhere and don't use it. This will show that you own less of your available credit contained by use, making your credit rating go up.

Good luck to you!

Answers:
The previous answers are correct.

Your credit does take a dip when you retract your credit card. It removes part of your "credit history" and increases your debt/credit ratio. These two items brand up a large section of your credit score.

I would suggest contacting BOA. You said you get a better offer from another company? Ask BOA to meeting it, or else you will not do business next to them. If they don't remove the annual fee consequently definately cancel the card and give somebody a lift the momentary hit to your credit report. I think annual fees are a scam anyway. Just ask them to remove the charge from the card. If you have built a virtuous credit record beside them, they'll be happy to do this to preserve you as a customer.

It costs credit card companies about $150 to safe and sound a new customer. They'll probably lose smaller amount than that by waiving the charge.

While you're at it, and while they're saying "yes" to you, ask for a lower APR. I own 3 credit cards and have asked for a lower APR every six months for the recent past 3 years. They've said yes every time. ;) I've got them adjectives down to single digits! If you have that card near no annual fee - sockdrawer it. The available set off will help your utilization overall.

Cancelling/Closing credit cards can hurt your ranking for sure - but even worse, you loose that good tradeline full of contribution history, and can negatively affect you getting better cards surrounded by the future.

My suggestion - hold on to it. Especially if it isn't costing you anything to keep it!