Question re: Closing account with zero balance

jediknight49

I am looking for some advice in regards to my current credit cards.

I have two Tesco cards, one with zero balance, one which is near to its limit and on an offer that ends in July.

I'm clearing monies off the balance, but come offer end time, there will still be a chunk of money left that I would like to balance transfer.

My question is regards to the card with zero balance. I was looking at closing this card as i do not use it and have no intention of using a card that incurrs interest. I thought this would help when applying for another 0% card?

I have read that closing a card with zero balance can affect your credit score in a negative way and that it's best to keep it open as it helps when applying for further credit. Is this correct?

[Deleted User]

If you only have a couple of cards, keep them both. Especially as you're maxed out on the other.

You should be using the zero balance card for your your regular spend and clearing in full each month, assuming you're not doing this on another card or two.

It's not your credit score that will be looked at, but your available credit, debts, income and history.

System

Edited edited

[Deleted User]

beany_bot wrote: »

Wait... woah.... They look at your credit score now....?

Clearly not.

What a bizarre interpretation of my post.

Fingerbobs

I open and close a lot of credit cards (I Stooz), and I always zero them out before closing. Just makes closing them much easier if there's no balance to worry about.