Close Accounts or not?
yus786
Forumite 663 Posts
Hi
One of my Credit Card has come to the end, have paid off balance from stooze pot.
Now the question, should i close this account? Or leave it open with a reduced credit limit?
Cheers
One of my Credit Card has come to the end, have paid off balance from stooze pot.
Now the question, should i close this account? Or leave it open with a reduced credit limit?
Cheers
0
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Replies
I'm in a similar situation to yourself and have been thinking long and hard about it as I'll be moving home soon, and need access to a 0% interest card.
I guess the biggest pro for keeping the account open beyond the 0% expiry is that you'll have credit available for a month if you need it in an emergency, to then pay off the next month due to high interest... This very rarely happens, but you never know. Con is that (I would assume) there is more of a risk of being rejected for another credit card, as it looks as though you have availability to too much credit.
I'm edging towards closing the account and re-applying as I don't need any more risks against my credit rating.
It'd be great to hear others opinions