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Closing credit card accounts?
GAZ1801
Posts: 1 Newbie
in Credit cards
Hi. Can anyone assist. I have 5 credit cards and if i am transferring a balance from one card to another and then maybe another over a few years so as to maintain 0% interest, should i close the old accounts down therefore enabling me to reuse at a later date? And would this effect my credit rating? Thanks.
0
Comments
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IMO, I would keep the oldest credit card open as I think it always looks good on your credit report when you have had a card going for years.
If you are not using the others I would close them.
Personally I prefer to have a few cards (3) and use them regularly."Brevity is the soul of wit and it is also the essence of effective communication" Rush Limbaugh.0
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