what to do with cards post transfer?!

creaturescape

I have just managed to get a transfer onto a 0% card for 25months. Good times!

Can anyone advise me what to do with the two empty cards i transfered from? Between them they have about £7000 worth of credit on them.

Should i use them a little and then repay in full every month or should i close one or both. I have worked so hard to repair my credit rating to get the better deals. I'm finally there. Both cards are cards for people with poor rating. i'm sure i've read somewhere that its bad to have credit sitting around not doing anything so maybe i should close them both and try and get one next year that is better interest on purchases.

what do you think? any advice appreciated.
C

[Deleted User]

I wouldn't get rid of both, as it's always wise to have at least one back up card. But if they are unlikely to offer future deals that are of use to you, then you may want to close one of them.

Use at least one of them regularly and pay in full each month (rather than spending on the BT card, as you will be charged interest).

jamesd

Use them a bit and pay off regularly. Age since an account was opened is one factor in credit scoring, so is regular on time payments. At the moment the cards will be helping your score more than the available credit harms you. In around six months you might want to apply for a0% for spending card an use that, saving the money you spend on it as you increase the balance.

After getting a second mainstream card would be a good time to close the newest of the poor rating cards. If they are of similar age look at the new customer card deals and close the one with the best new customer deals so you can later open a new account with them to get one of those deals. You could also request a limit reduction on the other card but this would increase the percentage of your available credit that you are using and it might be best not to do that.