Credit Cards

[Akshatban123]

What if I cancel my credit card and dont the pay the annual fees for the next year after using it for one year
Does it affect anything and if yes what and why ?

 

[Skylar]

What if I cancel my credit card and dont the pay the annual fees for the next year after using it for one year
Does it affect anything and if yes what and why ?

You may close the card before its renewal without impacting your credit score.
.
However, please note that with some banks, it can be challenging to obtain a new card once you have closed an existing one with them.

 

[Akshatban123]

You may close the card before its renewal without impacting your credit score.
.
However, please note that with some banks, it can be challenging to obtain a new card once you have closed an existing one with them.

Okay thanks Skylar