I am 22 and one year ago right after graduating college I opened an HSBC bank account and credit card with a $1500 limit. This was my only cc until recently, now I have an AmEx with a $10,500 limit. I have one of the HSBC advanced accounts, so I got the card's annual fee waived. My credit score is around 780. I'm planning on closing the HSBC checking account (there's a $5000 minimum balance that isn't worth maintaining, going to a no-fee no-min checking account elsewhere) and I am wondering if I should cancel the HSBC card as well.
Reasons to keep it: Oldest line of credit, probably good for my score? No international fees (I travel internationally enough that this is kind of worth it)
Reasons to close it: $60 annual fee I'll start having to pay The rewards points are almost nonexistent- better benefits with AmEx/other ccs
Is it worth keeping it open to maintain my credit score? I'm don't think I'm looking to take out any loans in the next couple of years, but I'm worried about the potential longer term effects.
Thanks!
Submitted June 23, 2017 at 12:10PM by pinkienickel http://ift.tt/2syVazf
