 TITLE: What Happens to Your Old Credit Card After a Balance Transfer? CONTENT: A Balance Transfer Does Not Cancel Your Old Credit Card\n-------------------------------------------------------\nWhen your balance transfer is complete, your old card isn't automatically closed, and you're not required to cancel it either.\nDepending on the new card's credit limit, you may not be able to transfer the entire balance. In that case, the old card will have a remaining balance you must continue to pay off. If the credit limit is high enough to allow a full transfer, you can decide whether to keep the old account open.\nIf you're afraid of the temptation to run up more debt, it could be worth closing the account. But keeping the account open could help bolster your credit. That's because having more available credit can help reduce your credit utilization ratio, which reflects the percentage of available credit you're using. Credit utilization is one of the most important factors in your credit score, making up 30% of your FICO® Score☉ calculation. Using any more than 30% of your available credit can damage your credit scores, and the lower your utilization, the better.\nIf you can keep your old account open with a low or zero balance, it will lower your credit utilization ratio and may boost your credit. Closing the account can have the opposite effect because it will reduce your overall credit limit. The average age of accounts also plays a role in your credit score, so closing an old account in good standing could eventually drag down your credit score. END