What to do with the old credit card?

nomemory

Hi guys I wondered if you could give me some advice..I keep getting mixed advice.

I have a tesco credit card with £1000 limit. It had 0% interest for 18 months, but that period has now finished and by the time the 0% had ended I had the card fully paid off.

I'm off on holiday this year and I like to pop the amount on a new card and just pay it off throughout the year (like I did with the tesco one..just to make everything a little easier.) I have been accepted for a santander credit card..0% for 18 months again with the available credit as £3000.

My question is...whats the best thing to do with the tesco credit card if I am looking to apply for a mortgage at the end of this year? Should I keep both cards? Or is it bad to have so much available credit?

Just one last note..by the time I apply for the mortgage the santander card will be fully paid off.

Thanks for any help

mum2one

I personally would keep the 2 cards - you never know if there is an emergency, if you did close then applied for a new card it would leave a trail. x

samtoby

Depends what other credit you have - I would keep it and use it the odd now and again and pay it off. Keeps those green lights on your credit file but will also so you do use it occassionally and have the ability to pay it off.

nomemory

Thanks for this advice guys, very useful!

I should have noted that I have no other credit cards/loans/overdrafts etc So I guess this would would be my only available credit. To my knowledge I never miss any payments or direct debits so I'm usually pretty careful with trying to keep the credit rating OK.

retiredin2011

Definitely have 2 credit cards, especially if going abroad.


I was abroad and one of my cards kept getting refused, luckily I had another one.