More cards or less???

warnski

Hi everybody - I was just wondering what's best as far as your credit rating etc goes: to cancel credit cards that you are not using or to keep them open?

The reason I ask is this: I've been conditionally accepted for a card that I intended to use for a balance transfer. However, I no longer need to do the transfer.

...So do I get the card (with no intention of using it) just so that the acceptance is recorded on my credit history? Or tear up the letter and forget about it??

I've been turned down for 1 or 2 cards in the past, so was thinking this acceptance might improve my track record.

Thanks in advance

Moggles_2

I think you have to treat each credit card on its own merits.
Which card is involved and how many others do you have open at the mo?

warnski

The card in question is an Abbey (best for balance transfers if you've already an MBNA card - which I do!)

I have 3 other cards open at the mo - 2 of them cleared (and I'm considering cancelling them) and 1 which i pay off in full each month