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    • RG2015
    • By RG2015 31st Jan 18, 12:02 PM
    • 834Posts
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    RG2015
    When to cancel credit cards
    • #1
    • 31st Jan 18, 12:02 PM
    When to cancel credit cards 31st Jan 18 at 12:02 PM
    I have a number of long term of 0% credit cards. Should I cancel the cards once the 0% period is over and the card has been paid off thus allowing me to apply again at some point in the future

    Also, would I actually qualify for a new 0% deal if I had previously had one with the same company?
Page 1
    • Candyapple
    • By Candyapple 31st Jan 18, 12:37 PM
    • 2,664 Posts
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    Candyapple
    • #2
    • 31st Jan 18, 12:37 PM
    • #2
    • 31st Jan 18, 12:37 PM
    With Tesco, I have kept the old 0% card open until I have applied for and received the new 0% one from them. Reason being as Tesco allow you to split limits so if the new 0% card doesn't have a high enough limit I can increase it by that method.

    Sometimes I like to clear the 0% cards and close them down and wait for a while until a really good deal comes along. Sometimes it is good to reduce the available credit to you in order to gain a higher limit when you apply elsewhere. It all depends on your own situation and finances.

    I have had lots of second, third time even new 0% deals with the same provider; MBNA, Barclaycard, Halifax, Lloyds, Tesco.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
    • RG2015
    • By RG2015 31st Jan 18, 5:52 PM
    • 834 Posts
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    RG2015
    • #3
    • 31st Jan 18, 5:52 PM
    • #3
    • 31st Jan 18, 5:52 PM
    Thanks for the reply.

    Have you opened new 0% cards whilst you still had an open zero balance card with the same supplier?
    • Candyapple
    • By Candyapple 1st Feb 18, 10:43 AM
    • 2,664 Posts
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    Candyapple
    • #4
    • 1st Feb 18, 10:43 AM
    • #4
    • 1st Feb 18, 10:43 AM
    Thanks for the reply.

    Have you opened new 0% cards whilst you still had an open zero balance card with the same supplier?
    Originally posted by RG2015
    Yes. With Tesco, Barclaycard and MBNA and was accepted for them all.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
    • RG2015
    • By RG2015 1st Feb 18, 11:12 AM
    • 834 Posts
    • 426 Thanks
    RG2015
    • #5
    • 1st Feb 18, 11:12 AM
    • #5
    • 1st Feb 18, 11:12 AM
    Yes. With Tesco, Barclaycard and MBNA and was accepted for them all.
    Originally posted by Candyapple
    Thank you for your replies.

    I currently have Nationwide, Virgin Money and Santander, so not the ones you have mentioned. I will have no need of these after the 0% is over as I get good cashback on my NatWest credit card.

    I may need to research further on the effect of unused credit facilities on my credit file before applying for my next card.
    • Candyapple
    • By Candyapple 1st Feb 18, 1:05 PM
    • 2,664 Posts
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    Candyapple
    • #6
    • 1st Feb 18, 1:05 PM
    • #6
    • 1st Feb 18, 1:05 PM
    The problem I found with Santander was they only had one 0% purchases card at the time and so unless I wanted to choose a balance transfer card from them, there was no point, so I closed that one down when it came to the end.

    I've not had a Nationwide card yet so can't comment on that.

    With Virgin I found that although you are allowed to have 2 cards with them, that if you had a 0% purchases card that your second card couldn't be the same. So if you wanted a second card it could be a balance transfer card or money transfer card, but not a purchases card. I don't know whether they have changed this since 2016 though as that was the last time I checked.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
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