What should I do?

jckh14

I have two credit cards with barclaycard and I want to close one but which is more important to keep out of the two...

1) Longest barclaycard and my first credit card, I've had it for 23 month in total, 26.9% purchase rate/ 35.9% cash rate. Cash withdraw limit £50 credit limit £6000. (However the purchase rate is due to be reduced next month)

2) I've only had the card for 7 month however the purchase rate is 11.9% and the cash rate is 27.9%. Cash withdraw limit £500 credit limit £6000

I always pay in full with all my cards and I never keep a balance so I've never payed interest, however what is better, a lower interest rate for emergencies or my longest credit agreement on my credit file? I also have a MBNA card that's why I want to close one of my barclaycards because 3 credit cards is too much for me, I don't need 3. I've only had the MBNA card for 4 month though

Thanks for any advise

Ben8282

My personal belief is that you should not cancel any of the cards but keep all 3 of them. This opinion is the result of decades of using credit cards and things which have occurred over the years (usually when abroad) which makes me believe that (within reason) the more cards that a person has to fall back on the better.
Taking into consideration the fact that you have only held a credit card for 23 months, your credit limits are very good and unless MBNA have given you a really low limit, there is no reason to believe at this point that the amount of credit available to you is considered excessive.
3 credit cards is not in any way a large number to possess. You don't actually have to use all 3 of the cards each month although its better to use each of them from time to time rather than let an account become completely dormant. Nothing in your OP suggests to me that you are the type of person likely to get carried away by having all of that available credit and getting yourself into debt.
Having said that, if you do want to close one of the accounts then you should close card 1 as card 2 appears to be the better card . The long-term advantages of the better card will outweigh any short-term disadvantage of reducing the overall age of your credit accounts, especially as I assume that you do not intend to make any further credit card applications in the near future.

jckh14

Thanks for your advise, I understand what your saying and I'm starting to think your right and keeping the 3 cards could benefiting me in case one stopped working.

The credit limit on my MBNA is £2000 which is still quite high considering I haven't been managing credit for a long period of time.

Thanks again

A4445

Why not call barclaycard and ask them to merge your accounts into 1? You get the best of both worlds then you keep the same limit on only 1 card!