What are the best CC to keep hold off?

K9cuddles

I know it depends on what APR they offer you, but I just wondered what ones are worth sticking with and why? i.e I know Egg give you a 0% anniversary.. which is super for existing customers!!

I've had the following, you might want to add on?

Captial One : Closed (no incentives offered at all).
Monument: Closed (no incentives offered at all).
Citifinance : Closed (Regulary credit limit increases at about £500 every 6 months).
Barclaycard : Closed ( Wouldn't let me increased my limit above £500!!)
Mint : Open (intial 6 months 0% No incentives offered since).
HSBC : Open (intial 9 months 0%)

CharleneUK

Virgin (initial 6 months 0%) - Keep writing to offer me as little as 1.9% on balance transfers.

JoseChungsDoomsday

if you have a nationwide card, KEEP IT!

Curry_Queen

Since applying for my first ever credit card, almost a year ago now, I have since managed to get another three, each being slightly better than the last, but I really don't need that many so was wondering if I should close two of them and just keep the two I use?

Capital One - £900 limit - horrendous interest rate - zero balance
Barclaycard - £950 limit - again high interest rate - zero balance
Tesco - £750 limit - 0% ends April so balance will be paid off, but will keep for the points
Lloyds Advance - £4K limit - 0% 6 mths - used for current spending

I don't intend to ever pay any interest on any of these cards and I always clear the balance at the end of month, apart from the 0% cards where I pay minimum payment and the amount I have actually spent goes into savings instead to clear them at end of 0% period.

I'm just worried that having that much credit now available to me that I would be refused any further applications for another 0% card in 6mths time, so am I better off closing Cap One and Barclaycard now?

The_Boss

I have had an offer of an extra 6 months 0% on balance transfers from Llloyds TSB, but that doesnt help you much as you dont have it. Capital One, NatWest, Morgan Stanley and MBNA have never given me any offers. Capital One even told me when I cancelled that they would not give me any low balance transfer, but to reapply a month after the card was closed. Even though I had two years of history of never missing a payment with them.

dc

Nationwide Classic, for first 9 months 0% on purchases ( used to be BTs too) not quite as good as 0% BT, but frees up cash to use elsewhere. Then at end of interest free period, BT the remaining balance to another 0% card, change the Classic to their Cashback version and keep for purchases and the cashback, but more importantly the fee-free foreign money.

In this quickly changing business, for me the Barclaycard has been worth keeping over the years for their regular offers to keep current customers happy.

Whereas the MBNA group ( who used to be worth keeping) seem to have lost the plot with high charges and very short lived 1.9% offers involving bigger fees.

dc

Firsttimebuyer_4

Barlcaycard regularily sends me offers (about every 3 months) with 2 options:

1. Life of balance transfer at 6.9%
2. 6 months 0% on balance transfer


That's not bad.....although they do have some fees for the BT's

Bokken_2

S_a_r_a wrote:

Captial One : Closed (no incentives offered at all).
Monument: Closed (no incentives offered at all).
Citifinance : Closed (Regulary credit limit increases at about £500 every 6 months).
Barclaycard : Closed ( Wouldn't let me increased my limit above £500!!)
Mint : Open (intial 6 months 0% No incentives offered since).
HSBC : Open (intial 9 months 0%)

If you have the MINT card then you should keep it in reserve as it can be used as a MULE card to complete SBT's.from other cards into your current account or another account.

Bokken_2

Curry_Queen wrote:

Capital One - £900 limit - horrendous interest rate - zero balance
Barclaycard - £950 limit - again high interest rate - zero balance
Tesco - £750 limit - 0% ends April so balance will be paid off, but will keep for the points
Lloyds Advance - £4K limit - 0% 6 mths - used for current spending

I don't intend to ever pay any interest on any of these cards and I always clear the balance at the end of month, apart from the 0% cards where I pay minimum payment and the amount I have actually spent goes into savings instead to clear them at end of 0% period.

Have a look at the stoozing forum because that is what you are doing perhaps you don't know your doing it.
Try and select your cards for what you want them to do rather than cancel and re-apply willy nilly.
Read up on the credit card shuffle articles written by Martin and just fine tune what you have already been doing .Also if you are clearing the balance each month consider a cashback card for all of your spending or a points card Nectar/Tesco's.
good luck

HGLTsuperstar

dc wrote:

Nationwide Classic, for first 9 months 0% on purchases ( used to be BTs too) not quite as good as 0% BT, but frees up cash to use elsewhere. Then at end of interest free period, BT the remaining balance to another 0% card, change the Classic to their Cashback version and keep for purchases and the cashback, but more importantly the fee-free foreign money.

cashback card no longer exists, change it to the Comic Relief Charity card and spread some of their profits!

jimmyjim_uk

Barclays is a good card IMO. As they offer a lot of their customers 6.9% life of balance transfer with no fee. As mentioned in Martin's article here