Visa Credit Cards With 0% Interest Rates
How many Credit Cards is too many with them all paid off?
I just paid off my Credit Cards and wonder if I should close some. I have good score 750. We are living in our retirement house so won’t be buying another. I have 8 cards of 5 visa, 1 mastercard, 1 amex, 1 discover card and 6 store cards like macys, penneys, pier 1, home depot, circuit city, victoria secret. I think this is too much and wonder if I close some of the newer ones if its okay. I opened a few of them the last few years to get 0% interest to pay off others but now those rates are over.
Actually, it may not be a good idea to cancel any of these. When you cancel Credit Cards, your score actually goes down. In fact, it’s a good idea to have some activity on a credit card since this also weighs into your score.
A good idea would be to pay all of your bills using a credit card. Try to get something out of it, like frequent flier miles or cash back at the end of the year.
You should be applauded for paying off your debts and maintaining an excellent credit score.
Good luck
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