Credit builder cards after the job is done

33days

I've had the high rate credit builder cards @ 40% 35% cards but my credit is on the mend now and they have done their job is it best to leave them dormant or close the accounts, how would this affect things in both cases

grumbler

This depends on numerous factors like your income, other cards, their limits and balances.

Start with MSE article: Old Credit Cards

bigadaj

I would get into a position whereby I had maybe two mainstream cards with reasonable limits and then close the credit builder cards.

grumbler

bigadaj wrote: »

I would get into a position whereby I had maybe two mainstream cards with reasonable limits and then close the credit builder cards.

Is Aqua 'mainstreem' in your book? Aqua Reward is one of my preferred CCs, the main one for spending abroad.

bigadaj

grumbler wrote: »

Is Aqua 'mainstreem' in your book? Aqua Reward is one of my preferred CCs, the main one for spending abroad.

Depends on your view and how you are using it. If you get cashback then fine retain it.

What I do and you do will differ for many reasons, I utilise Halifax clarity, nationwide debit and select credit card when overseas.

System

If they have tiny limits and no other benefits (such as the cashback / forex free) then ditch them.