POV: You don’t use your luxury credit card anymore #personalfinace #money #investing #finance

[Citystyler]

You're first mistake was getting a card with an annual fee.

[matthewthomas]

It doesn't remove your credit history for that card. A canceled card will continue to be used as part of the "credit age" calculation by the bureaus for the next 10 years after cancelation. What it does do, however, is lower your total allotted credit limit across all accounts. That, in turn, raises your total utilization percentage which will have an impact on your score.

[oildalestar]

Why would you get a card with an annual fee especially one with a 695 dollar fee

[dano]

Pay cash for everything. Credit scores are just a way to say look i can be in debt. Debt is bad.

[Marpen-Live]

It's better just to not have any credit cards at all.

[LesbianParaste]

So we have LawbyMike and jonghob, cool