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Home/News Feed/Don't close paid-off credit cards; keeping them helps your credit score and utilization ratio.
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Don't close paid-off credit cards; keeping them helps your credit score and utilization ratio.

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22 Aug 2026
Fool - Investing News
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After paying off credit card debt with a balance transfer card, it's advised not to close the card. Closing cards can lower your credit score by reducing your total available credit and increasing your credit utilization ratio, as well as shortening your average credit age. Keeping no-fee cards open maintains credit benefits. Balance transfer cards remain useful after the intro APR ends, functioning as normal cards that support credit health. The Citi Double Cash card is recommended for its 0% intro APR on balance transfers and 2% cash back rewards, making it valuable to keep long-term.

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