Will all seven of your credit cards be cancelled if you default on two or three of your balances?
[Edit]

Answer

No. Only those companies with with you have an outstanding balance and are not paying will close the accounts. However, seven credit cards is above the average number. You may want to think about closing several accounts and paying down the rest.

Maybe.

If the issuer decides that the account holder is becoming a financial risk they do have options available such as lowering the account holder's credit limit, raising interest rates, closing the account, etc.

Improve Answer Discuss the question "Will all seven of your credit cards be cancelled if you default on two or three of your balances?" Watch Question

First answer by ID3507516259. Last edit by Macky. Contributor trust: 3282 [recommend contributor]. Question popularity: 12 [recommend question]

Also see on Answers.com

Research your answer:

Answers.com > Wiki Answers > Categories > Business and Finance > Personal Finance > Money Management > Credit > Credit and Debit Cards > Will all seven of your credit cards be cancelled if you default on two or three of your balances?

Our contributors said this page should be displayed for the questions below. (Where do these come from)
If any of these are not a genuine rephrasing of the question, please help out and edit these alternates.
Default on credit cards?  How is the us working permit processed?  Will you have to give up your car if you default on your credit cards?  Can default notices by credit cards be prevented form being printed in newspaper?  You were checking your credit cards on your merchant account it was processed you did notwant it to prosess is it fraud even thought you cancelled it when you decovered it was processed?  Will all seven of your credit cards be cancelled if you default on two or three of your balances Thanks?