I've done the same thing and it works well. There is a company who have basically done the same thing with "acid free" cardboard, they were at the Houston quilt festival as well as others, I would imagine, and they claim that the fabric bolts are not acid free and will destroy your fabric, but I've been doing this for almost 2 years now and haven't had a problem to date. Look at this as an encouragement to use your stash that much quicker....and still buy more! Happy Thanksgiving!
I suppose they would say that if they are trying to sell theirs! Why would fabric be sold on those cardboard bolts if they were bad for fabric? Some of that fabric in the stores has sat for years and never had problems. I can still remember our little store in town. They couldn't afford to buy a lot at a time til they sold what they had on hand and some of that was OLD!!