Redundant Cards

toodles11

Hi,

I had a credit card and the apr was quite high so i did a balance transfer to a 0% card, that has now run out so i have transfered again to a different card at 0% and hope to clear the balance before the 23 month 0% limit.

My question is what to do with the 2 previous cards that are just sitting there with a zero balance - do i cancel them or leave them?

I read somewhere that cancelling a credit card can affect your credit rating but at the same time having £10K (£5K on each) as available credit cant be good?

PixelPound

£5K is a small limit and £10K available credit not high. Is your total available credit around about your annual income or less, if so no real issue. Use the other two cards every month or so and always pay off in full, it will show you can manage credit well, especially with £10K sat unused. Better that than one CC with a very high balance due to the BT and no other access to credit.

toodles11

available credit is much less than annual income