Should I close high interest card

Houndog6105

Hello

I have 9k of credit available in credit cards

Capital one £500 Apr 39%
Aqua £4000apr 39%
Barclaycard £4500 Apr after promotion 24%

My Barclaycard has 3500 outstanding on a 28 month interest free card
The aqua card has been cleared in full and so has the capital one card
I want to start getting a card which doesn't have ridiculous interest fees on it but I'm not showing as eligible for any. Should I close the aqua card as I never want to spend on such a high interest card anymore. Done it for years and paid the price massively
Should I close it or should I just leave it there and available on my report?
Thanks for any advice

[Deleted User]

Keep it. You only have three cards and low limits.

You're also carry a high balance on one card, whichHmeans you would look very stretched on just the two cards.

Just use the aqua card every few months to keep it ticking over.

Dean000000

Even better, do your weekly shop on them, and pay them off in full each month.

Houndog6105

Great idea that. Thanks guys

CakeCrusader

Aqua will halve the limit every 2 months unless you use it (I've just cancelled mine as I have a Tesco one with a much lower rate). It makes your fictional credit score drop by 50 points when they do this too.

[Deleted User]

Where does it say this?

CakeCrusader

!!! wrote: »

Where does it say this?

First hand experience. I cleared it in October, they reduced the limit by 50% in December, and I received a letter a couple of days ago saying they were reducing it again so I called and cancelled it. I checked my credit file last night, the Aqua limit had dropped and the 'score' had fallen too. There were no other changes, everything's within their limits/paid on time etc, it was just this. It wasn't showing as cancelled either, it must have been the credit limit drop.

[Deleted User]

CakeCrusader wrote: »

Aqua will halve the limit every 2 months unless you use it

That's not a standard rule though. NewDay haven't yet automated their limit decrease strategies.

CakeCrusader

Deleted_User wrote: »

That's not a standard rule though. NewDay haven't yet automated their limit decrease strategies.

They must have really hated me then! They increased my interest rate by 5% (to 44.5% or something like this) after my initial offer ended too (BT at 0% for 3 months). I never went over the limit, never paid late, always paid way above the minimum. I'd just be aware of this, if it's used once a month for a coffee/groceries or something and paid off in full then it probably won't be an issue.

[Deleted User]

CakeCrusader wrote: »

They must have really hated me then! T

Yup, that's what I heard too...

Houndog6105

Surprised to hear that. I'll just get a weekly shop on it every now and again and then wait for statement and pay off in full. Thanks for letting me know