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Balance Transfer advice
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minxette
Posts: 34 Forumite

in Credit cards
I got an Aqua card and Ocean finance last year to start building my credit, was doing ok till xmas then unexpected home repairs meant I spent more than I could afford to pay the full balance each month. I've still being paying more than the minimum and nowhere near my max limit.
I don't like paying interest especially at the high rate of those cards so I've today applied and been accepted for a Barclaycard 0% balance transfer card, transferred the £2000 and I've got £1000 left of my limit on the Barclaycard. Happy days.
Just looking for advice with regards to what is best for my credit rating, am I best closing the Aqua and Ocean accounts or leaving them with zero balance and cutting up the cards. I won't use them again as the Barclaycard has a better interest rate after the 0% deal ends. Thanks for any advice.
I don't like paying interest especially at the high rate of those cards so I've today applied and been accepted for a Barclaycard 0% balance transfer card, transferred the £2000 and I've got £1000 left of my limit on the Barclaycard. Happy days.
Just looking for advice with regards to what is best for my credit rating, am I best closing the Aqua and Ocean accounts or leaving them with zero balance and cutting up the cards. I won't use them again as the Barclaycard has a better interest rate after the 0% deal ends. Thanks for any advice.
0
Comments
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Neither. Always have at least a couple of cards, so you have a back up. Keep them both active by putting occasional purchases through and clearing in full.
You'll also want to keep at least one so as not to look too stretched - having a single card with two thirds of the limit use could make you look a little over utilised.0
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