Closing a paid off Credit Card

therevelator

Hi, I've got an old CC that I used for 0% balance transfer.

I paid off the balance before the end of 0% period, and now I still have the card with the available credit.

I just got a letter asking if I still wanted to keep the card.

Should I close the account or keep the credit available?

I don't really need the card btw. Thx.

JasX

If its your only card or you have one other and its your only spare might be worth keeping it somewhere safe at home (in case your wallet/purse ever gets stolen so you have something to use for food etc). Otherwise ditch it.

If you do keep it and it has a silly credit limit might be worth trimming that both to assist future credit applications and reduce exposure to fraud etc... or even personal temptation (ie cut it down to £2,000 - £1,500 or less -best not to leave £6-8k lying around)

therevelator

OK, ta. Merry Xmas.