Big City Modeling Agencies | Credit

Big City Modeling Agencies makes the point that ditching annual fees is often a smart play, although in this case $95 might not be much for what amounts to an open line of credit with no present spending limit. Since you're closing a charge card (which doesn't let you run a balance) instead of a credit card (which does), your credit score probably won't take a hit, at least for now. Credit-scoring firm FICO currently figures scores-the calculation most creditors use-without including charge cards in the all-important "credit-utilization ratio," which divides the total of all your credit limits by your total balances.