1 credit card or 2?

Gaeilgeoir

Another vote for having more than one card here. If possible, I would also recommend having more than one from Visa/Mastercard/Amex, so you have options if something like the recent Visa collapse happens again.

Anthorn

pcoventry wrote: »

Prime lenders wouldn't touch me when I had a vanquis card - when I shut it boom straight onto Barclaycard Platinum.

Lenders don't know which credit card you have. You see it in your interface at CRA services for convenience but all lenders see is an anonymous credit card.

In answer to the OP, I have four credit cards which includes a long-standing card which I don't really use and is kept for the reason already stated in this thread that lenders like stability. I also have a long-standing bank account for the same reason. I also have 1 low interest purchase credit card and two 0% credit cards which I have used for balance transfer and money transfer. Overall, I don't use a credit card for everyday spending but for instant credit. For everyday spending I use my current account debit card.

btw if you keep a long-standing card for reasons I have stated be sure to keep it alive by using it for small amounts and then clearing the balance every month. If you don't do that you could find that the lender cancels it due to it being inactive and that defeats the object of keeping it.

sourcrates

I don`t use them, never will again.......too easy to get into debt with if your not careful........and i was not careful.


Do not take this post as any kind of advice whatsoever.

chelseablue

Gaeilgeoir wrote: »

Another vote for having more than one card here. If possible, I would also recommend having more than one from Visa/Mastercard/Amex, so you have options if something like the recent Visa collapse happens again.

I always like to have 2 credit cards, one Visa and one MasterCard just in case.

I have a Barclaycard Cashback that I've had for years (Visa) and one with Lloyds (MasterCard).

PixelPound

If the OP feels would be more comfortable only using one, then sure, close one. Is the feeling you spend more because of the credit limits? That is as they are builder cards they will have low limits so if you use just one you are aware of what your maximum is. There has been advice to go for a mainstream one that would have more benefits like cashback or preferable interest rate, since you could close the capital one one afterwards, but if you got a card with a lot lower interest, or even interest free for a year or two, and a lot higher credit limit - would you be able to manage it or feel a temptation too far?

PixelPound

As to frequency of using them - I have two cards that may carry a zero balance for several months and they don't get closed, others are my regular use cashback and balance at 0% cards. I may put something on every 6 months to stop dormancy flags, but that's it.