Annual fee coming up on two citi cards (AA) what should I do?

[ChikkyMonkey]

Hi,

Was reading through some of the threads... I applied a year ago for two citi aa cards (visa and amex) and now the annual fee is coming my way...

My wife also has two cards... we only used them the first month to make the qualifying purchases.

Is there any downside to closing them both? I have one more CC from Citi without annual fee... I don't really need the CL coz I have 40k with amex and 40k with chase...

will keeping one card and paying the annual fee make it more likely to have me approved in the future for me Citi cards?

Thanks

[Name Changed]

Never just close a card... Try to move the CL over before closing

Also try to call and get the fees waived

[stever]

even with a business card (ink bold) doeasnt it not affect ur credit?

[ChikkyMonkey]

whats the reason not to close the card? If I don't really need the credit line why bother moving it?

THanks

[HelpMe]

whats the reason not to close the card? If I don't really need the credit line why bother moving it?

THanks

It has to do with utilization and leverage if you plan on applying for more cards. If you have a long credit history it makes little to no difference.

[smurf]

So I didn't realize that my year was up and they already charged me the fee. Whats there policy if I want to downgrade now?

[gozalim]

So I didn't realize that my year was up and they already charged me the fee. Whats there policy if I want to downgrade now?

it will take 45 days for the downgrade to take effect, at which point you will get about $70 back (=prorated)
you can also call and say you are thinking of canceling and you might be offered $85 to stay.
these are not mutually exclusive

[Aaaron]

So I didn't realize that my year was up and they already charged me the fee. Whats there policy if I want to downgrade now?

They waived the fee for me in return for me making 5 qualifying purchases within the next 3 months.  Just call and ask them to cancel the card.

[PETERP]

They waived the fee for me in return for me making 5 qualifying purchases within the next 3 months.  Just call and ask them to cancel the card.

I would not just call and cancel card . You may be the unlucky one that gets  a CSR that will do just that . Tell them you are thinking of canceling card due to annual fee, and are they offering anything for you to keep It first.

[smurf]

I just called and asked to be downgraded to the fee free bronze level, They offered me an $85 credit plus 750 points every time I spend $750 in a statement month for the next 16 cycles.
Very easy phone call immediately made this offer without any haggling

[elig770]

I came across this thread just in time... My fee posts in April, so I called to tell them I'm thinking about cancelling because of the fee and they offered me a one time credit of $85 after 5 qualifying purchases in the next 3 months. Simple and quick! Thanks everyone!