Ditch or keep open low limit account?

madein83

I have two credit cards with the same provider. One is their highest rate/bad credit card (when I was establishing credit) and one on their highest tier / low rate card.

Over time, I've built up both to have a £5k limit. The only difference is one card is about 35% APR and the other around 11%.

I recently asked to combine my limits to the low rate card, which they accepted. So I now have nearly £10K on one card and £100 left on the other.

My question is - is it generally better for my credit file to leave the £100 card open, or close it down and consolidate? The only reason I'd consider keeping it open is because I've had the card for several years, so it shows a bit more longevity. I've had the lower rate card for about a year less. I don't plan on using the £100 card anymore.

Cheers for any advice.

bengal-stripe

I can't see any reason to keep the £ 100 card open, not even 'longevity' as the card has only an extra year compared to the new one.

As most of the assessments will be done automatically by computer, the limit of £ 100 might well work against you, as the computer is not likely to look into the history (as an underwriter might do) and just concludes: 'low limit card = bad' and will rate you down in accordance with it's programming.

madein83

Makes sense, thanks @bengal-stripe

planteria

yes, i would close the £100 account.