Close low limit credit cards ?

dazzaofdagenham

Deleted_User wrote: »

Always clear in full, not just minimum plus a bit extra.

I set the min payment up when I took the card out....not really a fan of direct debit.

Try not to pay interest on any of my cards, however paying a little ensures I’m valuable to them?

Maybe I’ll ask for a credit l8mit increase and if they refuse then I’ll close it down.

dazzaofdagenham

!!! wrote: »

Do you have a normal Cap One card?

They may be able to consolidate the limits on a Luma and Cap One card

No
Have this Luma card
A amazon credit card.
A aqua card
And a vanquis card

That’s the limit of my credit I’m afraid.

Fingerbobs

dazzaofdagenham wrote: »

Try not to pay interest on any of my cards, however paying a little ensures I’m valuable to them?

You're valuable to them anyway because they earn fees every time you spend on the card.

dazzaofdagenham

So I phoned capital one and asked for a limit rise.....they said no

Classic case of !!!8220; computer says no!!!8221;

I asked for a manual review and this will be done within 72 hrs I!!!8217;m told and will be called with a response.

I can understand a low limit to start, in 2012 my credit file was in tatters..

In 2018 I have no CCJ, couple of closed accounts that have had defaults ( all paid off )

Credit file is massively improved.......so maybe time just to close this luma card down

Crystal_Pixie

So I was in a similar situation to you about a year ago. The issue I found was the defaults. Once they are off your file then you are more likely to get a better deal.

check the eligibility calculator to see if any companies would be interested in your profile. I found that Tesco were happy to give me a zero rate card about 6 months prior to my defaults coming off my report.

After that it was pretty straight forward to get better rate cards.

I have cancelled my Vanquis (£500 limit) and Capital one now because the rate was so high.

dazzaofdagenham

Crystal_Pixie wrote: »

So I was in a similar situation to you about a year ago. The issue I found was the defaults. Once they are off your file then you are more likely to get a better deal.

check the eligibility calculator to see if any companies would be interested in your profile. I found that Tesco were happy to give me a zero rate card about 6 months prior to my defaults coming off my report.

After that it was pretty straight forward to get better rate cards.

I have cancelled my Vanquis (£500 limit) and Capital one now because the rate was so high.

Thanks

I don’t really need more credit cards....

I already have a amazon card and a aqua and a vanquis card.....so I was just trying to get a increase on the capital one card.

I’ve informed them now that I want to close it down....

Dandytf

Deleted_User wrote: »

Always clear in full, not just minimum plus a bit extra.

I'm going to clear my cash plus and close 250 limit -currently 50% used though slowly paying it off.
Next card will be 450 limit Cap1-again clear and pay off
Then Tesco Bank-though that's 650 limit@90% used-no extortionate interest@27.5 apr approx -think I'll clear and then decide if worth keeping.
Once that's all done before year end 2018.
I can make a start on the biggies-the next and slightly above 1k used cards-limits ranging from 900 upto2.5K
OP didn't mean to spoil your initial question though I'm ceartainly going to clear my lower limit card this year.