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  • FIRST POST
    • Badger27
    • By Badger27 13th Mar 17, 1:34 PM
    • 7Posts
    • 0Thanks
    Badger27
    Keep or Cancel
    • #1
    • 13th Mar 17, 1:34 PM
    Keep or Cancel 13th Mar 17 at 1:34 PM
    I've don't have a great credit history, but it seems to be getting better!

    I have 3 credit cards, 1 overdraft (interest free for at least 6 more months, potentially 18 months) and a loan.

    The Credit Cards are:
    1) approx 31% APR Balance £800, limit £800
    2) approx 39% APR, Balance £380, limit £1450
    3) 0% on BTs for 32 months, Balance £0, limit £3700.

    Card 3 has only been approved today so once I get it fully set up I will obviously transfer the other two cards on to it. My question is should I then cancel the other two cards, or cut them up and not use them but still keep the accounts? What would be best for my credit rating?
Page 1
    • zx81
    • By zx81 13th Mar 17, 1:35 PM
    • 14,042 Posts
    • 14,724 Thanks
    zx81
    • #2
    • 13th Mar 17, 1:35 PM
    • #2
    • 13th Mar 17, 1:35 PM
    Keep at least one and use occasionally. It's always wise to have a back up.
    • MallyGirl
    • By MallyGirl 13th Mar 17, 1:40 PM
    • 2,016 Posts
    • 6,829 Thanks
    MallyGirl
    • #3
    • 13th Mar 17, 1:40 PM
    • #3
    • 13th Mar 17, 1:40 PM
    keep the one you have held longest. Only exception would be if the relative ages wer3e similar and one was sub prime/credit builder type then you should keep the other one.
    • jonmoneybags
    • By jonmoneybags 13th Mar 17, 1:48 PM
    • 291 Posts
    • 248 Thanks
    jonmoneybags
    • #4
    • 13th Mar 17, 1:48 PM
    • #4
    • 13th Mar 17, 1:48 PM
    cancel them all as credit cards are the work of the devil.
    • mrmagooooooo
    • By mrmagooooooo 13th Mar 17, 2:17 PM
    • 93 Posts
    • 66 Thanks
    mrmagooooooo
    • #5
    • 13th Mar 17, 2:17 PM
    • #5
    • 13th Mar 17, 2:17 PM
    cancel them all as credit cards are the work of the devil.
    Originally posted by jonmoneybags
    Is this one serious?
    • bigadaj
    • By bigadaj 13th Mar 17, 5:51 PM
    • 10,655 Posts
    • 6,958 Thanks
    bigadaj
    • #6
    • 13th Mar 17, 5:51 PM
    • #6
    • 13th Mar 17, 5:51 PM
    Is this one serious?
    Originally posted by mrmagooooooo
    Not really, check the posting history, appears to be a negative IQ.
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