What are the benefits of closing your other credit card after a Balance Transfer?
Some of the benefits from closing your other credit cards and loans are:
- It will help reduce the total amount of credit card and loan annual fees you pay.
- Simplify your finances and decrease the number of cards you hold.
- Prevent you from accruing additional debt, by decreasing the available credit options.
- Help prevent increases in your monthly debt obligations.
- Reduce the amount of credit recorded against your credit bureau record.