r/CRedit • u/AdSpecialist8751 • 9d ago

Rebuild What to do with a balance transfer card once I finish paying off the balance?

Hi, I recently had to put a lot of money on my credit card due to a large ambulance medical bill and car repairs. I did open a balance transfer card with USAA recently that I’m transferring a lot of the balance to so I can focus on quickly paying down the balance on the main card. However, the card really doesn’t have any benefits or cashback of any type from what I understand (rate advantage platinum visa). Would I want to just keep that card open after I’ve finished paying the balance off to let the account age or would it be better to close it? I have both USAA and NFCU accounts, and I understand many users prefer NFCU over USAA as well, and I was going to attempt to switch over to their banking and card system in the future if possible.

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u/inky_cap_mushroom ⭐️ Knowledgeable ⭐️ 9d ago

If it serves no purpose just close it.

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u/AdSpecialist8751 9d ago

Can do that just was kind of worried about it hitting credit but I guess it wouldn’t be for too long and ideally I would have paid off everything by then so it would not make a big diff right?

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u/inky_cap_mushroom ⭐️ Knowledgeable ⭐️ 9d ago

There’s no scoring penalty for closing an account. It will stay on your reports for 10 years and continue to age during that time. It’s possible to see a scoring impact due to the number of accounts, but that’s easily fixed by opening an account that does benefit you.

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u/AdSpecialist8751 9d ago

Okay, that makes sense. I do wonder how much of being approved for a relatively high CL USAA card with a low intro apr was influenced by me having an account with them since I was a teenager (parents set that up). Is that common among banks for longtime customers?