Advice re 0% and closing a credit card

honeypooh1980

I've just transferred a balance from one card to another on a 0% interest deal. Once this is up i cannot guarantee another offer will be available on any of my other cards.

Should i close the card with no balance now and in 14 months apply for another one? Can this been done or will i not be able to apply for another that soon?

unimaginative_user_name

I imagine 14 months is enough time to wait so you wouldn't be rejected for a new card on those grounds. However you could be rejected on other grounds ie too much available credit. Are you working on reducing the balance on your 0% card as one day you may find the 0% deals will run out and you could potentially be left with a large bill at a high APR.

If keeping the old card just means you are tempted to run up more debt you might be better off cancelling it unless you use it for some expenses and clear your balance in full each month as well as gradually reducing the balance on the other card.

honeypooh1980

I have four cards as you van see from my signature. The old egg card will be closed by Xmas and I don't have pins for the MBNA or mint so no spending can be done on those and I have no intention of spending on the Plat barclaycard. I am going to be working towards the balances, got lots of eBay stuff to list and have started a diary on here to help me stay on track.

Thanks for your comments x