Balance transfer

Frank9393

Just wondering what to do once you've paid off a balance transfer within the interest free period? Is it best to close the account or is it better to keep it open? I'm hoping to do another balance transfer and want to keep a good credit rating to be eligible for this.

MallyGirl

It depends on who the card is with, what other cards you have, whether there is other debt, your credit utilisation, so many variables mean there is no single right answer.
Barclaycard used to be good for offering further deals to existing customers so that used to be a keeper. Tesco only seemed to offer deals to 'new' customers and you needed to not have held a Tesco card for at least 6 months before you could apply again and get new customer deals.
I have kept my longest held card which has a decent limit and gives cashback, I have Amex which gives better cashback but isn't accepted everywhere, I have Clarity Q for foreign travel, and then I have 0% cards which will be paid off and closed just before the end of the promo - either from savings or by BT depending on what offers are around at the time.

[Deleted User]

It depends on your circumstances - income, debt and available credit, amongst. others.