To close or not to close?

Simon7685

I probably suspect the answer to this is close it but it never hurts to seek forum members opinions and double check before doing it:D

I am moving nicely over from sub prime to prime and it has been a long journey.......... However I now have 3 prime time cards, B/Card Freedom Rewards, MBNA Platinum and Nationwide Select.

Given that the longest opened account is the Vanquis Grantie card, is it better to just keep it open or close it? I haven't used the card since last September but it does have nearly 3 years worth of green ticks on it. So I want to do whatever will be best as far as my credit report is concerned.

Curiously as well (though irrelevant as far as this thread is concerned) it is officially the worst piece of plastic in my wallet. It has the highest APR (Obviously) and the lowest limit at £1k. I only ever got 1 limit increase all the time I've had it. I guess they don't like me very much because I've never paid them a penny interest:D. So they probably think I'm not a "valued customer".

Vortigern

Close it. Those green ticks will stay on your file for another 6 years even when the account is closed/settled.

Simon7685

Well that was easy, apart from the 10 mins on hold. No doubt Vanquis making the last bit of profit from the call cost.:mad: Robbing bleep bleep bleep's:eek:.........

Took all of 30 seconds to close the account, confirmation letter coming out in the post. No questions, no asking why I wanted to close, which was a bit disappointing really. I had a little speech all set about low credit limit and silly APR's:D.......

The only thing he wanted to make me aware of was that closing the account meant I could NEVER hold an account with Vanquis again:rotfl:. They don't go in for repeat customers then!

On a more positive note and given I haven't paid them any interest, I have to say, it did it's job and helped me rebuild my credit rating. It is a shame really they don't offer prime cards with sensible interest rates, as I have never had a problem with them. A call every few months to try and sell me their PPI but that's all.

So that's that, Goodbye Vanquis and thanks for helping me rebuild my credit rating:T