You don’t have to close a credit card account to avoid paying an annual fee. Downgrading your card to one that doesn’t charge is better. Here’s how to do it.

Troy Segal is an editor and writer. She has 20+ years of experience covering personal finance, wealth management, and business news. Toby Walters is a financial writer, investor, and lifelong learner.

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Thomas J Catalano is a CFP and Registered Investment Adviser with the state of South ...

Keep your credit lines open. If you have a credit card that doesn't earn much in the way of rewards but you've had it open ...