Close Credit Cards or Leave Open?

Nuclear_Tom

Hi everyone

So the upshot is I have got:

Capital One Card with approx £800 on a 0% balance transfer that ends in April 2018;

Vanquis card I've had since 2013 with zero balance, but 3k limit and is now an 'Autograph' card at 26.4% for purchases (I rang to close the account and they 'upgraded' me;

Marbles card - zero balance and 39.9% APR, but £3850 limit and I've had this since 2014;

First Direct have just given me a 0% for 17 months for purchases card albeit I only asked for a £1500 limit.

The reality is that I don't need a credit card other than I've been building my credit history since an IVA in 2011 (now dropped off my credit file yay!). My credit score with Experian is now 982 after 6 years of it being obliterated, so the credit builder cards have done their job! :beer:

My gut feeling is to keep the First Direct and the Vanquis and close the others, but is keeping a Vanquis card open bad for my credit file or should I close that too? Is there any reason to have more than 1 card? I guess I feel a bit snobby about the low limit!

Answers on a postcard (or typing below is just fine thanks :rotfl: )

Thanks

T-G-C

Lenders cannot see the provider name, only the data submitted by them to the CRA.

There is no direct negative affect from owning a Vanquis card, it is your history of usage and other relevant factors which decide whether it’s a hinderance or neutral element.

Kim_13

I would close the Marbles, since you've had the Vanquis for longer and it offers a lower standard rate should you need to spend on it without a 0% deal. The limits aren't really that different so I wouldn't worry about it.

Can you clear the balance on the Capital One by April?