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The past few years, I have been opening a new credit card that offers a intro bonus (usually $200 - $300 after spending $500 or $1000 within the first 3 - 4 months) and also 0% purchase APR for 12 months. I let the debt accumulate over the 0% promotional APR period paying only the minimum each month. Then I pay it off in full right before the intro rate goes away and stop using the card. I then move onto a new card with similar arrangement and do the same thing. I have an 816 FICO credit score with a long history (my AMEX card has been open since 2006 and I have had 2 different mortgages with one current mortgage) and never missed a payment, never paid credit card interest. I don't plan to be taking out credit any time soon, but I want to keep my score high. A few questions:
Once the intro APR goes away and I stop using the card, should I close it or leave it open with a $0 balance. I currently have 3 open cards. 2 have no balance. I'm using the one that still has the 0% intro APR.
If I want to get more aggressive in capturing the cash intro bonus, would it hurt my credit if I use the card until I meet the requirements to get the cash bonus (usually by spending $500 - $1000 within 3 months) and then simply close the card and move on to another card with similar offer?