Which Card to Ditch

Samsung_Note2

Hopefully next month looking at clearing 80% of credit card debt.

Barclaycard has £3800 with £5000 limit
1st Direct has £2990 with £4000 limit
Tesco £995 with £1500 limit
Vanquish £0 with £1000
Marbles £0 with £2950 limit

Dont need anywhere near the combined limits and salary is roughly £30000

Hopefully next month will have £8000 to use to reduce balances...both Barclaycard and 1st direct are 0% deals...Tesco balance just couple of weeks old but will pay % if left.

Was looking at getting rid/closing all cards except maybe Barclaycard or 1st direct...any thoughts on the main two,Barclaycard seem to have more offers than 1st direct.

[Deleted User]

Any particular reason for closing the high limit cards?

how long have the cards been open and what are the APR’s?

Ben8282

Your total available credit is not particularly high. Get rid of the credit builder cards and apply as needed for other mainstream cards. If you are carrying a balance on the 3 remaining cards then get a new mainstream card for purchases so you don't get charged interest on them.

Samsung_Note2

!!! wrote: »

Any particular reason for closing the high limit cards?

how long have the cards been open and what are the APR’s?

Simply dont need the credit nor the temptation to use them...limit of any of the cards would be high enough.

Oh forgot ive got a Halifax Clarity £1000 limit no balance.

Just seem to have collect the cards over time and no longer need them...Tesco and Barclaycard held the longest and APR is 18% if memory serves me correct.

Samsung_Note2

Ben8282 wrote: »

Your total available credit is not particularly high. Get rid of the credit builder cards and apply as needed for other mainstream cards. If you are carrying a balance on the 3 remaining cards then get a new mainstream card for purchases so you don't get charged interest on them.

All balances will be cleared...appreciate the limits are not that high,but plenty high enough for my kind of purchases.

Ws thinking between 1st direct and Barclaycard...least Barclaycard do seem to have reasonable offers.
Not sure if 1st Direct even do them...:(

SMCG

Vanquish is actually Vanquis. I would close the lot of them if you don't need them. Your score willl go BOOM.

Craig1981

SMCG wrote: »

Vanquish is actually Vanquis. I would close the lot of them if you don't need them. Your score willl go BOOM.

Score is not important and potential lenders dont see this.

Do you travel? keep the clarity for this reason, and keep the others. if an emergency rises, at least you have something to use. I personally would not close them all. keep the oldest one you have, and close three of the others (my opinion anyway)

[Deleted User]

SMCG wrote: »

Vanquish is actually Vanquis. I would close the lot of them if you don't need them. Your score willl go BOOM.

Actually the made up score is likely to drop once the accounts close.

Anyways, I would keep st least one MC and one VISA if you’re intent on closing some down. Maybe keep the ones with the higher limits.

And maybe the Clarity card as well if you travel a lot.