Credit card help!

Iruhaku101

Hey guys and thanks for any help offered,
I recently balance transferred £2700 total from 3 credit cards. Marbles, Aqua and Tesco bank. I’ve been working on my credit score for nearly four years and this is the first time I’ve been offered a prime credit card with a £3500 limit. It is 0% on balance transfers for 28 months with a 1.75% fee: my limits on the transferred cards are Marbles (£3000) Aqua (£2500) and Tesco (£800) I was paying out £140 in interest alone (Aqua and Marbles) per month. Obviously I’m now paying 0% interest and I can pay it off within a year now. My question is what should I do with the other cards given their limits? I don’t want to make my credit rating poorer due to credit utilisation if I cancel cards. I can resist using credit (the debt is a family member who I helped out while in trouble) and about £300 personal debt. Should I keep them? Better to remain active and not used than cancelled? Conflicting advice online.

Thanks

[Deleted User]

With only a few cards and low limits, I would keep them

It doesn't matter what your credit score does - you want to demonstrate you're a low risk to lenders, not to the CRAs, and the credit score doesn't measure that.

The cards you keep, make sure you use them from time to time to keep them active.

Iruhaku101

Thanks zx81, I did think that but just wanted to make sure, I’ll make sure to use at least £50 PM on each card to remain active. Thank you!

yksi

I would also keep them. The combined total of all cards is what matters and in your case it's not enormous. Keeping accounts open for longer will also theoretically show stability.