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Zinger ↑
@zinger
If you wanna learn how to hack credit card points and travel around the world in style for free follow /churning
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Daniel - Bountycaster
@pirosb3
I’m tempted to cancel all my credit cards now that I’m really tight with money (just keep 1 for emergency). I’ve heard that cancelling cards affects your credit score, is that correct?
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@zinger
Yes since it 1) lowers your available credit and therefore raises your % credit utilization and 2) it adds a closed account to your score Are you mostly concerned about paying the annual fees? Or overspending by having them open?
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Daniel - Bountycaster
@pirosb3
Mostly the first one, I’ve downgraded as much as possible but still have that annual $100 fee that I find kind of useless since I don’t use the card
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Zinger ↑
@zinger
Yeah downgrading is the first thing I was gonna suggest, definitely preferable to cancelling Which card(s) is it?
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Daniel - Bountycaster
@pirosb3
Chase preferred, had Chase reserve and downgraded it
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Zinger ↑
@zinger
You should be able to downgrade to either of the Chase Freedom cards which have no annual fee! Call Chase and tell them that you want to “product change” from Sapphire to Freedom Unlimited (would recommend that over the Freedom Flex since it just gets 1.5% back on everything instead of 5% quarterly categories)
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