I had a credit card about 10 years ago that I opened to help build my credit up. The limit on the card was on 500.... to this day it remained the same. It also carried a 59 a year membership fee. In the past that have waived that fee for me because I haven't used the card in over 10 years.... It literally sits there and the only activity on the account is the 59 dollar membership fee that I have paid 6 of the 10 years and then its been waived the other 4. This year, they said they weren't offering any membership fee waivers... My credit score is now around 800 and I have multiple cards that carry balances well over 20k.... I chose to cancel this 500 dollar card due to the fee and lack of usage.... I had an increase in 2 of my other cards this year of well over 5000 dollars thus swallowing up that 500 dollar balance. Once I cancelled, they waived the membership fee because I wouldn't be using the card this year. How much of a credit ding can I expect? I know good credit activity stays with you 10 years after a card is closed.... I just don't want to see a huge score drop. Thanks everyone
