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Should I cancel Credit card?

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We've just moved from Barclay card to Morgan Stanley to make the most of the cash back (pay it off monthly in full)

Should we cancel our barclaycard now that we're not using it or keep it open?

I'm sure I read something about barclaycard being a good one to keep open? Or is it bad for the credit rating to have too many cards open?

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  • grumbler
    grumbler Posts: 58,629 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Pixiegirl wrote:
    ...I'm sure I read something about barclaycard being a good one to keep open? Or is it bad for the credit rating to have too many cards open?
    Two cards is not too many.
    Should I cancel old credit cards? - Martins article:
    Two cards deserve a special ‘keep ‘em’ mention because their deals for existing customers are static and published, so you know what you’re getting. If you pay a fee, Barclaycard will allow you to transfer debt to it at 2.9% and this rate lasts until the entire debt you’ve moved over is paid off. Egg has promised to offer existing cardholders 0% for 5 months every year for the next two years.
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