How much does your credit score drop by when cancelling a credit card? How long for it to rebound? Currently at 800+

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Have you considered downgrading the card to a no annual fee one, rather than cancelling?

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OP, I see what you mean- you can't downgrade except to green, which still has annual fee. Do this, call them and say you'll cancel and see what retention offer is.

In the end, if you care about what happens to your 800, get foundation cards that may 'hurt' you short term but cards no annual fee but you like that you'll keep even in a sock drawer and be alright with yourself. this way you can cancel plat and you'll be back in hardly any time.

This is mainly cuz plat is charge vs credit card, so your utilization won't be as weirdly affected when it's gone vs otherwise. And I assume you pay your cards in full and on time, not just plat etc

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Cancelling a card doesn’t really impact based on the models I’ve seen, unless 1) it tanks your total credit and causes an increased utilization. An effective alternative is to close a card and transfer to another card at the same bank. (I did this at Chase.) just be careful how often you apply for cards, as those hard checks and some banks’ business rules mail result in lower scores or rejection. Or 2) it’s your oldest card or above avg age, and causes your length of history to drop

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Not much why cancel though?

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What TSC1 said. Don't cancel, just convert to different type of goal is to avoid a fee

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Amex Platinum

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"It depends"

For real. It's hard to say. Depends on age of your accounts, debt to credit ratio, etc.

Depends on credit utilization too

Which card so we can look into downgrade paths etc?

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