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Downgrade it to a no annual fee card or consolidate the credit line to other cards that you use more if you really want to close it. Closing it will usually impact the credit score (total credit line, credit history, #accounts) so I avoid doing it.
I’ll then add a small recurring charge (Netflix or something) to each of these and have them autopay in full every month to keep them active.
In some situations, you can transfer credit limit before canceling. But overall it is most effective to cancel after a year — get the signup bonus and dump unless you use the card a lot (Amex gold, CSR, etc.)
Nope. No reason to hold. Temp hit on credit will recover pretty soon-ish.
Usually I downgrade it, if not at least try to get a retention bonus/discount. But actually the Marriott card is worth keeping for the free night cert for $95/year especially now you can top off up to another 15k points
Speaking of referrals, here’s a 90K Gold referral
http://refer.amex.us/QUINNCzDSV?XL=MIACP
OR a 125K platinum
http://refer.amex.us/QUINNCKrRb?XL=MIACP
As C1 said, I keep the Bonvoy cards for the free night that’s worth more than the annual fee. The 15 elite nights for having a personal Bonvoy card plus 15 for a business Bonvoy card may be useful too and point earning is decent relative to other options if you’re charging Marriott stays to it