Shall I close it or not?

MrUniveristy

I am going to University and will hopfully get a PT job, I currently have 2 Creditcards;

Barclaycard Platinum @ 21.9% - £2400 Limit
Nationwide Select CC @ 15.9% - £1500 Limit

I currently have £1100 on the Barclaycard on 0% until August 2014 (hopfully pay it off in full by then)

£0.00 on the Nationwide CC.

Shall I keep both open or close the Nationwide one?
My credit isnt great & im going to be a student for 3 year.


Advice please,


Regards,

CLAPTON

if you never plan to go abroad or hire a car or stay in a hotel or need emergency funds then get rid of the cards

[Deleted User]

OP - do you really mean your username to read MrUniveristy?

Please tell me it's meant to be ironic.

themull1

Deleted_User wrote: »

OP - do you really mean your username to read MrUniveristy?

Please tell me it's meant to be ironic.

Ha ha, i didnt even notice!!

Herbalus

Having the Nationwide card will mean that you'll have an interest-free period if you need (hotel, hire car etc) to use one before the balance of your Barclaycard is paid off - this won't have any interest-free period any more because you aren't paying off the balance in full.

It's always useful to have at least one credit card, and just because you have less money at university it doesn't mean you should close it.

I simply use my CC instead of a debit card. I spend exactly the same amount as I would do on a debit card, but leave my pennies in a savings account until I get the CC bill

kavita72

Close Nationwide one I think

pjread

personally I'd keep hold, even if you just stick the odd bag of potatoes on every few weeks some good credit history may be handy in the future.

Also barclaycard I think occasionally offer good repeat deals to some.

Aquamania

MrUniveristy wrote: »

I am going to University and will hopfully get a PT job, I currently have 2 Creditcards;

Barclaycard Platinum @ 21.9% - £2400 Limit
Nationwide Select CC @ 15.9% - £1500 Limit

I currently have £1100 on the Barclaycard on 0% until August 2014 (hopfully pay it off in full by then)

£0.00 on the Nationwide CC.

Shall I keep both open or close the Nationwide one?
My credit isnt great & im going to be a student for 3 year.


Advice please,


Regards,

You are going to university so will at best have a low income if you get that PT job almost every other student will be looking for.

By your own admission, your credit history isn't good anyway.

Why are you looking to close any existing credit facility you already have? You may have difficulty gaining the same in the near future if you discover it might turn out useful.

iAMaLONDONER

Deleted_User wrote: »

OP - do you really mean your username to read MrUniveristy?

Please tell me it's meant to be ironic.

Sharp as ever ZX81!