I am canceling Rob’s Chase Marriott Rewards Premier Credit Card
Remember, Rob got the card last year and received 70,000 Marriott Rewards points after making $2,000 in purchases within the first 3 months. (The current offer is back down to 50,000 Marriott Rewards points). We actually used this card and earned a ton of additional Marriott Rewards points at the Atlantis last spring. And we do have a stay at the Marriott coming up in Hawaii as well (on points), where I would definitely like to use a Marriott card for our incidentals. But I have one too. Remember, I just got one also (for the second time!) with an 80,000 Marriott Rewards Bonus Offer. We can use my card on our future stays.
So when we got the bill for the $85 annual fee on the card, I canceled the card. You can read more about what you should know about canceling cards here.
As I always note, first, 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.
Second, I asked Chase to move the credit line from the Chase Marriott card that I was canceling, to Rob’s Chase British Airways Visa Signature card. Chase happily obliged but insisted I leave $1,000 credit line on the Marriott card. Ok!
It is helpful that I was able to move Rob’s Marriott credit line to the British Airways card for a couple of reasons. First, as I have told you about before, higher credit limits on cards, make it easier to reallocate credit to secure big bonus cards. And higher credit limits can help your credit score (by improving your utilization ratio), and higher scores lead to higher application approval rates.
Also, to keep it fair in my mind, many times when I apply for cards, I fast track the application by not asking for additional credit, but rather moving credit from one of my existing cards. So isn’t it fair that when I canceled this card, that we get the credit line back? Chase must have thought so, because they gave me back the credit line with no hesitation.