 TITLE: What to Know Before Closing Your Old Credit Cards CONTENT: When Does It Make Sense to Close a Credit Card?\n-----------------------------------------------\nIf you have a rewards credit card with a high annual fee, the question to answer is whether you use the card strategically enough to make the fee worthwhile.\nSay you have a co-branded card from an airline you fly with often. Even if you don't plan to put your primary spending on that card, paying a $99 annual fee could be worth it if the card gets you free checked bags and other airline perks when you travel.\nBut if you're paying a hefty fee and not using any of the card's perks, don't continue to pay it just to keep the credit line open. Instead, call your issuer and ask if they can convert the account to a different card that doesn't come with an annual fee. If they're willing to do so, it could help you maintain the same credit limit, preventing the closure from affecting your credit utilization ratio. END