Credit Cards FAQ
I love a good deal. To take advantage of low introductory rates and card with reward points.
I’ve opened and closed a dozen accounts in the past three years. Will that hurt my credit rating?
There’s nothing wrong with taking advantage of the latest and greatest rates, but it’s crucial to close your old accounts and make sure your credit report reflects that they were “closed by customer.” Otherwise you could be denied a loan because you have too much available credit. In addition, some credit card issuers have begun to penalize people who jump from card to card especially if they look like they are profiteering so if you do this realize you could be rejected for a card at some point.