0% Balance Transfer CC Question

Southpaw

Hi

I had a look at some of the stickys and couldn't find an answer (hope I didn't miss it!)

Can someone answer this?

I have 2 main credit cards which I use and usually pay off the whole amount each month.

Recently I was saving for a car and holiday (typically both came round the same time!)

Anyway rather than take a loan out I applied for a 0% balance transfer Credit Card with 6 months.

There is currently £2k on the card and I hope to be able to pay it all over before the end of the 6 months. (Will definately be down and into the last £1k)

Anyway. My question is as I have 2 main cards that I'm happy to use (1 is hardly used but as there is a £6k credit limit I think it could be helpful if any large bill was to come up) and pay off monthly. Should I then cancel this 3rd card?

Especially if I haven't been able to clear the whole debt on it within the 6 months.

I don't want a wallet full of credit cards and ideally would like to have just the 2. Then if, in the future rather than take out a loan take out another 0% Credit card?

And just as an afterthought. If I was to cancel this 3rd card would it then stop me being a new customer (ie 0% offers) again in the future.

Hope the above makes sense.

Thanks in advance.

grumbler

Southpaw wrote:

Anyway. My question is as I have 2 main cards that I'm happy to use (1 is hardly used but as there is a £6k credit limit I think it could be helpful if any large bill was to come up) and pay off monthly. Should I then cancel this 3rd card?

Should I cancel old credit cards?

And just as an afterthought. If I was to cancel this 3rd card would it then stop me being a new customer (ie 0% offers) again in the future.

With majority of cards yes. But not with all. Example: Nationwide CC

mintymoneysaver

And make sure that the cards you keep pay cashback,if you pay them off every month, so you can make some money out of them! If none of yours do, then apply for one that does and cut up and cancel one of the old ones instead!