Ok guys. Growing up my family never used credit cards to a large extent and that carried on with me into adulthood. I got my first card at 22 (us bank Hobby lobby card) and I always paid the balance off completely every month. I've since had auto loans ive paid off and a motorcycle loan ive paid off. I still have the old Hobby lobby credit card and use it the same as ever. Last year I bought a diamond (ring) on a 0% interest for 18 months card and have paid it off as well. This was extremely nice as I didn't have to pull thousands out of my savings. I basically used someone else's money for 9 months and paid off the balance.
My question for you guys is do you normally switch to the next best 0% card when available and just leave the others inactive? I've heard if i cancel my current card it will take a bunch of points off my credit. The way i understand it is i can apply for a new higher end card (i have excellent credit) and get a 0% for 18 month card and just leave my other accounts open with a $0 balance for basically forever and get the most benefit this way. is this true?
Im at a point I rarely need credit cards I only use them for fuel and online orders. basically out of convenience. What do you finance guys recommend? I was considering switching to a Citi Diamond preferred card as opposed to my old Hobby Lobby US bank card that originated as a starter card that I still have only with a much higher limit.
Advice from you finance professionals would be greatly appreciated.
My question for you guys is do you normally switch to the next best 0% card when available and just leave the others inactive? I've heard if i cancel my current card it will take a bunch of points off my credit. The way i understand it is i can apply for a new higher end card (i have excellent credit) and get a 0% for 18 month card and just leave my other accounts open with a $0 balance for basically forever and get the most benefit this way. is this true?
Im at a point I rarely need credit cards I only use them for fuel and online orders. basically out of convenience. What do you finance guys recommend? I was considering switching to a Citi Diamond preferred card as opposed to my old Hobby Lobby US bank card that originated as a starter card that I still have only with a much higher limit.
Advice from you finance professionals would be greatly appreciated.
Last edited: