The Credit Cards Promotional 0% APR Period is Over – Cancel or Keep Them

The Credit Cards Promotional 0% APR Period is Over – Cancel or Keep Them

Does one want access to more funds? (If yes, keep them open)

Will one apply for more 0% interest credit cards? (If yes, keep them open) One can get more 0% APR cards at nerdwallet.com, creditcards.com.

Do the current cards have good/great benefits, such as: points, miles, cash back? (If yes, keep them open)

If the credit lines are closed, will that impact one's credit score? (If yes, keep them open)

Our default response is to "keep them open" for the sake of building credit history. Further, it’s a good idea to have available funds for emergency purposes.

If the cards are constantly used, but it is not paid off in full each month, then take the interest into account. If the amounts are too high, then cancel 1-2 cards to start and verify one's credit score does not drop too low before cancelling the rest.

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