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  • FIRST POST
    • gregdavies
    • By gregdavies 11th Sep 17, 11:49 PM
    • 1Posts
    • 1Thanks
    gregdavies
    Keep cleared credit cards or close account?
    • #1
    • 11th Sep 17, 11:49 PM
    Keep cleared credit cards or close account? 11th Sep 17 at 11:49 PM
    Hey everyone, just after a bit of advice. I have 3 credit cards, 1 with a very small amount on it, but 2 of the others are completely clear. What is best to do? keep the 2 cleared credit cards or close the accounts and get rid of them from my report?
    Any advice would be appreciated.

    Greg
Page 1
    • molerat
    • By molerat 12th Sep 17, 9:02 AM
    • 17,349 Posts
    • 11,522 Thanks
    molerat
    • #2
    • 12th Sep 17, 9:02 AM
    • #2
    • 12th Sep 17, 9:02 AM
    Always have 2 cards just in case. What cards are they ? Are any of them likely to give you offers ? Do any of them have benefits ? What are the credit limits ? How do those credit limits sit within your overall credit availability and income ?

    Not a simple keep or ditch answer.
    www.helpforheroes.org.uk/donations.html
    • bengalknights
    • By bengalknights 12th Sep 17, 9:15 AM
    • 4,160 Posts
    • 1,521 Thanks
    bengalknights
    • #3
    • 12th Sep 17, 9:15 AM
    • #3
    • 12th Sep 17, 9:15 AM
    If your just building credit record i would keep the two for now
    • pennystretcher
    • By pennystretcher 14th Sep 17, 7:56 PM
    • 297 Posts
    • 1,318 Thanks
    pennystretcher
    • #4
    • 14th Sep 17, 7:56 PM
    • #4
    • 14th Sep 17, 7:56 PM
    Keep two active, cancel others above that.

    I am a teaser offer tart - only opening a c/card that offers vouchers etc, spending the absolutely minimum to get the offer and then close the account once I've reaped the rewards, but keeping second card account open for 'just in case'. My main CC gives cashback, so use that when I don't have an offer I'm chasing for.
    MFW Nov 2017 £390 (almost there!!!)
    • Simbad
    • By Simbad 14th Sep 17, 10:14 PM
    • 13 Posts
    • 0 Thanks
    Simbad
    • #5
    • 14th Sep 17, 10:14 PM
    • #5
    • 14th Sep 17, 10:14 PM
    I need help with this too.

    My first card was a Capital One card that is 34% and I've paid it off. I want to close it, but it's my oldest card and it said in the article on here that closing your oldest card is a bad idea? I have a couple of others, one is a new balance transfer card that I'm going to use to clear 2 other cards.
    • zx81
    • By zx81 14th Sep 17, 10:18 PM
    • 14,157 Posts
    • 14,860 Thanks
    zx81
    • #6
    • 14th Sep 17, 10:18 PM
    • #6
    • 14th Sep 17, 10:18 PM
    What are your four limits, balances, rates, cards and income?

    How long have you had each?
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