No debt - should I cancel card?

Lord_e55ex

Hi all

I have a M&S credit card which I've had for 3 years. I've used it loads and have no issues with it. I recently got an AMEX card as there rewards offer was really good, again no issues with debt or getting the card.

My question is, shall I ditch the M&S card as I now rarely use it or should I keep it for the historical data. I think I read some where that you lose credit history when you cancel a card. Again,i could be completely wrong, hence why I'm here

Any credit expert advise welcome

[Deleted User]

I'd keep at least a couple of cards and use them regularly to prevent them going dormant.

A back up is especially important if your primary card is Amex.

bengalknights

I would keep it just for the ageing factor and also as backup

Lord_e55ex

Cheers

So no concerns that if I close my M&S account it might affect future credit ratings ?

[Deleted User]

It would mean you have less active history and less available credit, which lenders will interpret as they see fit. You don't have a universal credit rating.

But I would be more concerned at the lack of back up when you run out of petrol at two in the morning and the garage doesn't take Amex.