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Minimum length of time to keep card open?
InsertWittyName
Posts: 1,073 Forumite
in Credit cards
Hi all 
I recently applied for a card purely for a cashback site's offer of money (£41.20) to do so.
I made a single small purchase and paid it off in full when the statement was due (as per the conditions of the cashback).
This cashback has now been paid so I could in effect close the card - what I'm weary of however is if there is a minimum amount of time I should keep this card open (ie. not to show as a negative in effect on my credit report).
Anybody any opinions on this please?
I do not need the card at all - it was purely opened for the cashback.
I recently applied for a card purely for a cashback site's offer of money (£41.20) to do so.
I made a single small purchase and paid it off in full when the statement was due (as per the conditions of the cashback).
This cashback has now been paid so I could in effect close the card - what I'm weary of however is if there is a minimum amount of time I should keep this card open (ie. not to show as a negative in effect on my credit report).
Anybody any opinions on this please?
I do not need the card at all - it was purely opened for the cashback.
I was a DFW, now I'm a MFW :T
0
Comments
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I would keep it open for at least 6 monthsDon't put your trust into an Experian score - it is not a number any bank will ever use & it is generally a waste of money to purchase it. They are also selling you insurance you dont need.0
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