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What's best to do with unused credit cards?

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  • MallyGirl
    MallyGirl Posts: 7,202 Senior Ambassador
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    From that list I'd keep:

    Barclaycard (2) 16,000
    Halifax (2) 15,000 (Partner)

    MBNA (2) 16,500
    MBNA (3) 13,000 (Partner)

    That gives long relationship, high limit cards, MBNA often do money transfer offers (one of the few that do), Barclaycard give offers if the card is being used.
    I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
    & Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
    All views are my own and not the official line of MoneySavingExpert.
  • Candyapple
    Candyapple Posts: 3,384 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    matt8787
    Barclaycard £8,900
    Barclaycard £16,000
    Halifax £9,600
    Virgin £15,000
    MBNA £7,000
    MBNA £16,500
    MBNA £6,000
    Tesco £5,800
    Total: £84,800

    Partner
    Nationwide £2,000
    Tesco £5,400
    Sainsburys £11,000
    MBNA £13,000
    Halifax £15,000
    Total: £46,400

    If I were in your shoes given the answers you have said, I would keep the oldest Barclaycard and close the other one.

    Halifax - you're allowed 2 cards from Halifax so if you needed to apply for a new card you'd be ok.

    Virgin - same as Halifax.

    Tesco - same as Halifax.

    MBNA - I would close 2 and keep 1.

    So in total you end up with 5 cards instead of 8. It's up to you both whether you want to lower some of your limits, although I imagine you both have high salaries so wouldn't make that much of a difference if you want to apply for a new card in future.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
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