To close or not to close!

Tanglewood78

Hi, Ive taken advantage of a 0% card for 12 months and paid it all off, the only issue now is do I close the account now or leave it open even though i wont use the card now. Does it affect my credit score if I close it..or leave it open for that matter.
Thanks

chattychappy

I'd leave it open. Depending which card it is, you might get repeat offers.

Views differ, but in my opinion leaving an account open but unused is unlikely to have any detrimental impact on your credit record.

lisyloo

Depends.

on how many other cards you have, you available credit, your % being used and your income.

Personally I tend to close cards to

1) reduce the possibility of fraud
2) reduce dormancy fees
3) bring forward the date of being a new customer and aplpying for new deals only available to new customers
4) To keep available credit low