Credit Card, to cancel or not to cancel?

MuddyFunster

So, further to this slightly whiney post 14 months or so ago:


https://forums.moneysavingexpert.com/discussion/5090725


I've been on the 'straight and narrow' credit wise.


Anyway, 12 months ago today I accepted a Capital One Classic card, it cost me a £100 security deposit and they gave me a £200 limit - I've paid every bill, in full - most of the time I've actually settled the balance before the bill was due so my CRA shows a zero balance most of the time.


Marbles contacted me recently and with the anniversary of my Capital One account coming up I applied and was accepted for one of their cards - no deposit and a £300 limit.


I don't really 'need' the £100 I gave Capital One for the Deposit, but it is mine - I accept there are no hard and fast rules, but would do we think? Keep the Capital One card in a drawer and let it continue to tell the finance world I can keep a CC without going mad, or cancel?


I'll use the Marbles card for my work expenses for another 12 months by which time my credit history will be clear and I could possible get some sort of cash-back card to make a little money from my expenses.

GingerBob_3

Keep it. Never be reliant on just a single credit card.

[Deleted User]

Personally, I'd keep it for a while - firstly as a back up and secondly as it gives you some history.

Once the marbles card has been up and running for a year, perhaps try for another card and then cancel the Cap One.