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I have 7 -0% Interest credit cards open, only 2 still have the 0% offer effective now; the others I don't use- there rates are 12.99%  or so. The question is: Should I cancel them or will this hurt my fico/credit score?
Also, The $ Limits are excessively high, I can reduce the $ limits on them and not use them rather than cancel them if it will hurt my fico/credit score...? What should I do, cancel them or just reduce the limits and not use them?
Is it good advice to continue on this path, re-order a new 0% Interest Credit Card when each runs out. I never balance transfer, because I pay them off prior to the deadline date. Or is there a better way long term?
Thank You.


If the the credit cards that now have an interest rate do not charge a yearly fee, then why not keep them open? The worst thing they can do is cancel the card after a time period of not using the credit card. If you do have to pay a yearly fee for the card and you don't use it, why keep paying for something you do not need?

Cancelling credit cards will hurt your credit score if you a) have a short credit history of less than 5 years b) have fewer than 3 open credit cards. Other than that you should not see a large drop in credit score due to closing a credit card.

I think that borrowing at 0% is as good as it gets. Paying the balance off before the due date is smart. Why pay interest if you do no have to?

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Chris Ebert


I can answer questions for Texas residents concerning issues that involve creditor and debtor rights. Specifically, I can answer questions concerning: FDCPA, FACTA, FCRA, and Texas state collections violations. Further I can guide consumers as how to repair their own credit with out the need for hiring a credit repair company.


For the last 10 years I have worked as a Sr. Paralegal in a law firm ( that defends debtors against their creditors. I have reviewed thousands of credit reports and under the supervision of our attorney helped thousands of clients resolve their credit issues.

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University of Texas at Austin

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