<prompt> Human: Forgive me if something like this has already been answered, I couldnt find a previous post discussing the same problem.I have a credit card Ive never used with a Credit Union I have a checking account with. They now charge a monthly fee for checking, so I want to close the account and move all my assets to my free Schwab checking, which I love.I dont want to take a hit to my credit score though. Ive only had the card for a few months. How big of a dip would my credit score take if I closed down the card? Is it worth paying 50 per year just to keep it open?Thanks!Edit: You guys are awesome. A very helpful community.Assistant: There is the general logic that you should never pay to increase your credit score. Also I have seen people with 800 credit scores and unimpressive average age of accounts... its apparently not as big of a factor in your score as people sometimes act. If it will lower your average age of accounts to under a year and youre applying for a loan very soon... I might keep it open. But generally theres no need to pay 50year here.Human: There is the general logic that you should never pay to increase your credit score.Whats the rationale for that general logic?Thanks for the helpful response!  <response>: The rationale is that the point of having a high credit score is to save money on loans. Paying money to save money generally doesnt make sense. 