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What should i do with my credit card
little_miss_T
Posts: 214 Forumite
in Credit cards
I have 2 credit cards, recently i have paid off the balance of one (GEM), and i am not sure what to do with it. Should i cancel it or keep it. I have included the information for both cards to see what you all think would be the best thing to do.
NAB
(Limit) 6000
(Balance) 1530
(Interest free) 9 MONTH ON ALL PURCHASES AND BALANCE TRANSFER EXPIRES NOV/16 - 40 DAYS INT FREE AFTER THAT (APR) 19.74 %
(Annual fee)39
GEM
(Limit) 4000
(Balance) 0
(Interest free)6 MONTHS FOR PURCHASES OVER 250, 30 DAYS UNDER 250
(APR)22.9 %
(Annual Fee) 99
NAB
(Limit) 6000
(Balance) 1530
(Interest free) 9 MONTH ON ALL PURCHASES AND BALANCE TRANSFER EXPIRES NOV/16 - 40 DAYS INT FREE AFTER THAT (APR) 19.74 %
(Annual fee)39
GEM
(Limit) 4000
(Balance) 0
(Interest free)6 MONTHS FOR PURCHASES OVER 250, 30 DAYS UNDER 250
(APR)22.9 %
(Annual Fee) 99
0
Comments
-
Are you in oz or New Zealand, as this is primarily a uk site so answers could be different?
Generally it is good to pay on a credit card and pay off to avoid interest charges and fees, though I would avoid paying an annual fee.0 -
Personally i would cancel both and try and find a card that doesnt charge a annual fee0
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bengalknights wrote: »Personally i would cancel both and try and find a card that doesnt charge a annual fee
There aren't any credit cards in Australia or NZ that don't charge a yearly fee, they usually wave the fee for the first year of having the card and that's about it.Time is a path from the past to the future and back again. The present is the crossroads of both. :cool:0
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