Should I Cancel a 0% Card Before the Rate Expires?

[alton]

To finance my fiancée's engagement ring, I got a credit card that has a 0% rate for six months. I plan to pay off the balance before the six-month intro period expires and then cancel the card. Is that a good plan? Will canceling the card negatively affect my credit score?

[Forum Admin]

Hi Alton,

I think your plan should be fine. Canceling your card won't hurt your credit score, but it may be impacted if you have to go and get another card later on.

Many people take advantage of those introductory rate offers. Might be worth calling the credit card company to double check.

Best of luck with the engagement!

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