We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
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
-
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
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.2K Banking & Borrowing
- 254.3K Reduce Debt & Boost Income
- 455.3K Spending & Discounts
- 247.1K Work, Benefits & Business
- 603.8K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards