Any point closing old stooz cards?

danthemoneysavingman

Hi,
previously I would just close old stooz cards to make my life simpler / card drawer emptier! But never sure whether this is a good or bad idea.
I have 3 "spent" stooz cards now with total limit over £30K.
Other cards have total limits around another £50K.
SO, smart to close or better to keep open?

Thoughts welcome. About the question rather than the limits ta.

Sea_Shell

I'm keeping my Barclaycard, as good limit in an emergency, but others I've had
(3) I've closed.

Still got 2 with small balances, due to be cleared in a few months, which I'll probably close too.

I've got 2 others with full balances and many months to go, so will review once they're paid off.

gingercordial

In my experience it's best to close them because after a certain period of time you can apply for another card with that provider as a new customer.

It's possible you could get a new 0% offer as an existing customer, but they are almost always worse (higher fees or shorter terms) than the ones they give to new cardholders. So I always shut mine down as soon as they are paid off so that I can get the clock ticking on my "reset" to being a new customer.

PamWatts

My experience has been when i have closed old accounts, I have never got the same credit limits again. Always lower

Sea_Shell

My stoozing days are over as I'll have £0 income in a couple of months time. No more new applications for me.

danthemoneysavingman

cheers for thoughts guys, may as well shut a couple of em yeah.
Tesco one seems rubbish for the points per spend now (as we rarely go Tescos now).
No harm reducing to up my affordability i guess

Ben8282

You have lots of available credit so, assuming you are sure that you won't be using them again, you may as well close them.

Fingerbobs

I tend to close them unless there is a specific reason to keep them open - e.g. I've kept my Nationwide Select card open because it still pays 0.25% cashback, which could be useful when Barclaycard decide to withdraw their 0.5% cashback, and I've kept my Lloyds card open because it usually has a fee-free balance transfer option on it, which is handy if I need to transfer a balance between two cards from the same bank (I can punt the balance via Lloyds, and only pay maybe a day or two of interest (pennies)).