Does Juggling Credit Cards Hurt Your Credit?


If you have shopped around for low-interest-rate cards, taken advantage to low introductory offers, and then moved your balance to another card when the preferential rate expired, you may have wondered whether juggling credit cards to chase low rates would come back to haunt you.

You need not be concerned. You will generally not be penalized for shifting credit cards accounts. However, you should close credit lines you no longer use. Too much available credit could hurt you if you apply for a loan, and some lenders may not like it if you've had accounts open only a short period of time.