Rob has had the Chase British Airways Visa Signature card for years. I have had him keep it in the past because we have always managed to find a way to obtain the British Airways Travel Together ticket, and use it. It can come in somewhat handy when you are a family of 5 that enjoys traveling in Europe. But with our upcoming trip to Paris and Amsterdam in a few weeks and another to London next summer, my future trip goals have moved from Europe to places like South America and Australia. Given that, I decided to cancel Rob’s card as the $95 annual fee became due.
BUT before I canceled the card, I moved Rob’s credit line to anoither one of his Chase cards that we have. Remember, YOU NEVER WANT TO CANCEL A CARD WITHOUT MOVING YOUR CREDIT LINE IF YOU CAN! The Chase number to call to reallocate credit it 877-763-3440
Another thing to note, canceling a card has a small impact on your credit score as long as other positive financial factors are in place. You can read about the effect of canceling a card on your credit score here.
