CC Paid Off - Now What...

Mimi_Arc_en_ciel

I had a 0% for 2 year cc which ends Dec. The balance is £0.

Id like to get another CC 0% for 2 years if poss (or as long as poss) but what's the best way to do this?

Thanks

[Deleted User]

Review the best deals (bearing in mind any eligibilty criteria) and apply for one.

I assume you mean 0% on purchases, as you don't have a balance? Long purchases deals are much rarer than long BTs, so you may not get 2 years. Many are for 6 months or so.

Mimi_Arc_en_ciel

Yes sorry, 0% on purchases. Ill have a look at best deals, am I better off cancelling my card now and then reapplying in a few months? Don't need the CC for anything, it just came in handy for bug purchases. Have no debts or late payments etc

[Deleted User]

If it's your only card, I'd keep it. It's a very high limit, perhaps reduce it a little, but otherwise, leave it.

Always good to have more than one for emergencies and you may get a repeat offer from it (companies like MBNA are good for repeat deals).

opinions4u

I'd start saving if I were you!

agrinnall

Or just use the card for normal spending, and make sure it's paid off every month (although you might want to look for a Cashback card to do this).

Mimi_Arc_en_ciel

Already have started to save - have started putting money aside for each of my children too (not loads! But as Mr T says 'every little helps')

CC - limit is £1300 but the APR after Dec will be high so doubt I will use it, even in an emergency I think I would probably ask my parents for a load rather than CC it with APR.

Its with Natwest so prob not a good repeat deal lol

Ty for the replies

agrinnall

But the interest rate is only relevant if you don't pay the full balance every month; if you do pay it then there's no reason not to use the card, and some good reasons (such as S75 protection) in favour of using it.

Mimi_Arc_en_ciel

We used the CC to pay for a holiday this year (on 0%) then paid it off bit by bit.

If we did the same next year then I wouldnt be able to pay it off in a full month (If i could then i wouldnt need the CC lol)

agrinnall

Fair enough, and for that you would need to look for another 0% card. But if you use the card you have for things that you would otherwise have paid cash then as long as you are disciplined you'll still have that cash which you can use to pay off the full balance each payment period.