We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
my first 'decent' credit card what to do with old one?
beautyqueen88
Posts: 296 Forumite
in Credit cards
after 8 months of building up some credit with a vanquis card 34% APR i decided to apply for a natwest classic mastercard 15.9% and i've been accepted which i'm very pleased about,
they have given me an initial credit limit of £1450; my credit limit with vanquis was £2000
so basically my question is what would you do with the vanquis card would you cancel it? am i right in thinking too much credit is seen as a bad thing to lenders? or should i keep it just in case.
i dont really hammer my cards anyway i always pay off the balance in full just wondered whats best to do i not really clued up on this sort of thing.
thanks
they have given me an initial credit limit of £1450; my credit limit with vanquis was £2000
so basically my question is what would you do with the vanquis card would you cancel it? am i right in thinking too much credit is seen as a bad thing to lenders? or should i keep it just in case.
i dont really hammer my cards anyway i always pay off the balance in full just wondered whats best to do i not really clued up on this sort of thing.
thanks
0
Comments
-
close it. It doesn't have any special features does it? Yea having too much credit is a bad thing, and an APR of 34% should be binned as soon as you have built up your rating (which you obviously have)Official DFW Nerd Club - Member no. 784 - Proud to be dealing with my debts0
-
I agree close it."Brevity is the soul of wit and it is also the essence of effective communication" Rush Limbaugh.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.5K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.2K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards