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Question By
smlopez123

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If I do a balance transfer will I have to close the existing account?
I have good credt. I have recieved an offer to transfer my balance to a new card with no apr for 18 months. If I do this - do I have to close the current account? The reason I am hesitant is this is my oldest account. I have never missed a payment and do not want to close it.

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Top Contributor
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No, you don't have to close the other account, just use it once a year to keep it alive.  I do this all the time and it's a great tool for saving money on interest.  Just be sure to calculate in the transfer fee into the equation.   

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