 TITLE: Should I Cancel a Credit Card With an Annual Fee? CONTENT: How to Cancel a Credit Card the Right Way\n-----------------------------------------\nIf you think closing your credit card is the best option, here are a few things you could consider and do first:\n*   Ask the card issuer for a retention offer.\n*   See if you can downgrade to a card without an annual fee and keep your account open.\n*   Figure out what will happen to the rewards in your account.\n*   Make sure you pay your balance in full before closing your account.\n*   Determine whether your credit utilization rate will increase and have a plan for keeping it low.\nEven if the card issuer already charged you the annual fee, it might not be too late. Some card issuers will refund your fee if you close your accounts and it's been fewer than 30 or 60 days. It's best to make your decision early and avoid the potential charge by closing your account before the annual fee hits. END