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can you close card with a balance?

jolfc
jolfc Posts: 446 Forumite
Part of the Furniture 100 Posts
edited 22 April 2011 at 12:18PM in Credit cards
A quick query , I have an Aqua card that I dont use, just pay some every month of it when statement comes and have transfered some to a 0% card. Am I able to get it closed and recieve the statement monthly still to pay minimum plus a bit extra until it is cleared. Will this have an impact on my credit rating negatively or positively, many thanks for any help. :)

Comments

  • menufrenz
    menufrenz Posts: 27 Forumite
    You can cancel the card even though you have balance on it. I just did it yesterday :T
  • jolfc
    jolfc Posts: 446 Forumite
    Part of the Furniture 100 Posts
    menufrenz wrote: »
    You can cancel the card even though you have balance on it. I just did it yesterday :T
    Was it a quick call or did Aqua try any trying to keep you as a customer? So closing it wont be a negative effect on my credit report? :)
  • Pantera_Fan
    Pantera_Fan Posts: 117 Forumite
    It will have a negative impact as it will show a balance of £x but a credit limit of £0. Best to just keep it open or reduce the credit limit to just above what you owe until it is fully settled.
  • glider3560
    glider3560 Posts: 4,115 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Pantera_Fan wrote: »
    Best to just keep it open or reduce the credit limit to just above what you owe until it is fully settled.
    And if you don't want to be tempted to spend on it, chop the card up and throw away!
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