Are there penalties or complications when it comes to cancelling or not retaining credit cards?
Eto kasi *** case ko mga sirs,
I have around 6 credit cards... I ONLY USE two of them, HSBC and EW, hsbc for the miles etc. and EastWest for the promos etc. Ayoko rin ksi ng madaming bills and it's hard to keep track of so many bills with so many cards, baka mabaon lang ako sa utang. now the rest, basically, these banks keep tossing credit cards my way, now to be fair, i did sign up for some of them, I'm in my 20's pa kasi and being young, fancied the idea of having some "wallet bling bling"(though i don't use them) the trouble is, ANNUAL FEES. even if you don't swipe it, you pay for it, of course may 1 year waived lahat sila. but the time will come that i will have to shell out.
Now since i feel i'm more mature than i was before, i feel i should start TRIMMING some of them off, mahirap na rin kasi with the temptations and all.
now my question/s are, may penalties or fines ba when it comes to "terminating" your CC account? and what are the possible repercussions and complications that would happen, both present and future if i do?
thanks and any advice would be appreciated!