closing un-used CC after a new one

db2016

hi all, a bit of relevant background before my question

BR in sept 16 and then discharge 17 ( a year later which is std). credit files are coming along slowly and nicely, eg on the way up!

i then soon after got a vanquis card at 39.95% and then they offered upping of limits to the current of 2.25k, i have paid mostly in full and only incurred charges once or twice. in fact due to an overpayment they now owe me £20 as in the balance is postive in my favour!

last week got a tesco card (15m BT and spends), and its at the upper end of their rates but still decent for my situ imo at - 26% so a good saving on rates compared to above, even though i WILL NOT get charges, i plan to pay off in full or as close as, i only use this for internet spends and will not hit their £3.3k limit they have given.. DD's set up for £200 a month for now, but thats just the minimum i set it for, i make over payments all the time, eg if sell something no longer needed).

soooo, i feel im doing ok, given that i have a new card even after BR etc, with a better limit and rates etc, question is, do i close the vanquis or is this seen as a bad thing?

should i keep it open? even if its just sat there in a drawer with 0 on it? or just cancel and chuck it?



all internet accounts that the older vanquis was connected to have been changed to the tesco, so the vanquis wont get used, as i have deleted the number off the sites etc).

only plan i have for the CC is to use it for day to day food / internet spends etc, for the protections etc, and i do have a planned (beginning to mid 2020) for a new PC, but again this is mainly going on the card for the protection and will be paid off in full with savings made within the 15 month 0pc period.



thanks in advance

[Deleted User]

If you only have the two, keep it.

Use it occasionally to keep it ticking over.

db2016

any raltionale behind that?

and yes i only have two, and literally, i cant see me using the older card at all, it would literally be in an old wallet out of the way... as i say all details deleted off sites etc / transferred to the better tesco card.

Deleted_User wrote: »

If you only have the two, keep it.

[Deleted User]

You want to build history, demonstrate that lenders trust you with more than a single card and you need at least one back up.

[Deleted User]

Keep both as a backup.
Ideally one should be Visa and one MasterCard in case of a payment system outage.

db2016

ah yes, they are i think, good idea!

thanks guys, yea ill keep it as "spare" then.

good to know that i'm "on the right track" given im being allowed limits and more is becoming available to me too, even if i plan to never "use" the credit as pre BR!