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What happens to the old credit card after the balance is transferred?
Curious about Balance Transfer
After the balance transfer is completed, the old credit card will have a zero balance. You can choose to keep the card open or close it, depending on your preference. It's important to note that closing a credit card can affect your credit score, particularly if it was one of your oldest credit cards. Additionally, if you close the old card, you will lose any rewards or benefits associated with that card. On the other hand, keeping the card open could help to maintain your credit history and potentially improve your credit score over time. Ultimately, the decision to close or keep the old credit card should be based on your individual financial situation and goals.
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