When to Downgrade Your Credit Card Instead of Canceling
by Mike Winters from Lifehacker on (#5R8BV)
When you have a credit card with an annual fee, you have a couple options to consider if you barely use it: cancel the card outright, or downgrade to a lower-tiered card. Since credit cards can be debt traps, you might think that canceling the card is the best option, and that's certainly a good reason to do it...but...