What to do with unused credit cards?
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Catseyez
Posts: 993 Forumite
in Credit cards
Hi,
Currently I use two credit cards: one for all my spending which I pay off in full each month (GE Money) and one for when I go abroad (Nationwide).
I also have an Egg card that I haven't used in about two years and also a Platinum Barclaycard that hasn't been used in over a year.
Any other credit cards that I've had along the way for 0% BTs (including M&S, Post Office etc) I have had cancelled.
I've kept my Barclaycard because in the past (in the days on fee free BTs) it was useful when making 0% BTs from one MBNA card to another. But now I can't really see any use in having it other than I am a Barclays current account customer.
I haven't looked into stoozing and if I were to do this, it probably wouldn't be for at least another two years as I'm currently a full-time student with a part-time income so I can't see that I would be able to get a generous credit card limit if I were to apply for other cards. But is it worth keeping the EGG card if I do decide to stooze in the future and want to take out Egg Manager?
Or should I just cancel both cards? How would it effect my credit rating if I did so?
Currently I use two credit cards: one for all my spending which I pay off in full each month (GE Money) and one for when I go abroad (Nationwide).
I also have an Egg card that I haven't used in about two years and also a Platinum Barclaycard that hasn't been used in over a year.
Any other credit cards that I've had along the way for 0% BTs (including M&S, Post Office etc) I have had cancelled.
I've kept my Barclaycard because in the past (in the days on fee free BTs) it was useful when making 0% BTs from one MBNA card to another. But now I can't really see any use in having it other than I am a Barclays current account customer.
I haven't looked into stoozing and if I were to do this, it probably wouldn't be for at least another two years as I'm currently a full-time student with a part-time income so I can't see that I would be able to get a generous credit card limit if I were to apply for other cards. But is it worth keeping the EGG card if I do decide to stooze in the future and want to take out Egg Manager?
Or should I just cancel both cards? How would it effect my credit rating if I did so?
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Comments
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But is it worth keeping the EGG card if I do decide to stooze in the future......and want to take out Egg Manager?Or should I just cancel both cards? How would it effect my credit rating if I did so?0
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Thanks, I will look into getting an Egg Money card. If anything it pays more cashback than my GE card (with the exception of supermarket shopping and petrol).0
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