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What's best to do with unused credit cards?
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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.0 -
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.com0
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