Hello 11MBA,
The $250 is now a sunk cost. Nothing you do will change the $250 you paid.
Also, please note, not feeling "good" while taking the exam is meaningless. I felt great on try #1, 610 and felt terrible on try #2, 710.
A score cancellation will show up on your score report as a score cancellation. This will not impact your canidacy as a grad student if you take the GMAT 2, 3 even 4 times. Once you get over 4, schools will think you are simply score hunting at that point.
My advice:
Take the exam, and use the experience to better your chances at try #2 (assuming you don't get your desired score). You have paid the $250, recover as much of the value as you can (both a score cancellation or exam rescheduling are like throwing your money away)
11MBA
So I scheduled my GMAT for this Saturday, and with only 4 more days left, I'm not as prepared as I liked to be for the exam. The past couple of weeks have been terrible for my study schedule with the holidays and plus I got sick. I want to reschedule but will have to pay a $250 penalty now. I figure I might as well show up and take the exam and cancel my scores if I don't think I did well. I'd at least get a practice out of it. However, I was reading the test bulletin and it mentioned that cancellations will be apart of my score report. Will this look bad to bschools? Should I still show up or just reschedule right now and pay the hefty fine?