When you've paid off a credit card....

Mrs_Arkwright

.....is it best to completely close that account, or leave it open so that the powers that be can see you've got credit but don't need to use it?

lynzpower

is it your only credit card or do you have others with debt on them?

Mrs_Arkwright

I've transferred some CC balances to a 0% card, and am wondering if I should shut them now there is no balance on them.

lynzpower

yeah close them

the only reason why youd *need* one open is to prove you are debt worthy and in the loop. Keeping expensive cards open is not only risky as in you might end up using them, but also will make you look less favourable to banks, who see "shes got access to X amount of debt already"

Having those phone calls to close cards is quite fun anyway the way they try to convince you not to close them ( quite a sad life me dont i :rotfl: )

Mrs_Arkwright

Ok thanks, I'll get on the case and get rid.

Blimey though, it's a bit scary isn't it - I feel like I'm chucking away my life jacket while floating in a holey dinghy in a shark infested sea of shops.

I WON'T BE ABLE TO GO SHOPPING!!!:eek:

I feel like I'm at Alcoholics Anonymous.

My name is Mrs A and I'm a shopaholic.

I can stop this. I can. No more shopping until they've been paid.

And then I'll pay cash.

lynzpower

Course you can go shopping. I find market stalls seldom ever take credit cards though

Mrs_Arkwright

I'm off to Asda now, instead of Tesco. And I'm using a list to stick by.

Bye for now

Jessiepig

Just a thought I have several credit cards and some are empty. I am reluctent to cancel them as I have been sent good balance transfer offers on them as they are empty. It means that I can move my balance around and get a good rate (except Lloyds Tsb.).