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New Credit Card Will Now Never be Used.

I applied for and got a Virgin credit card to balance transfer my holiday balance to and to use for spending abroad.
However I got a refund of my holiday money before I transferred the balance and will not be going abroad for at least a few years and probably never so I will never be using that credit card as I have a Nationwide cashback card.
What should I do with it?
Stick it in a drawer and forget about it or cancel it?

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,383 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Keep it as a backup, along with a couple of others.
  • blue.peter
    blue.peter Posts: 1,372 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    Keep it as a backup. A reserve credit card or two is always a good thing - you never know when you might need one. Keep it ticking over with a small transaction or two each month, paid off in full before any interest accrues. If you ignore it completely, it's possible that the issuer will treat it as a dormant account and eventually cancel it.
  • badger09
    badger09 Posts: 11,804 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    edited 24 May 2020 at 5:43PM
    I agree, keep it as a backup and use it occasionally. Once or twice a year will be enough to keep it active.

    You can use it to buy me a drink in a port, somewhere warm & sunny on a FOC cruise B)
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I agree agree agree with the above - lenders are having to cut costs, therefore credit cards might be more difficult to get in the short term due to you know what.
    Be sure to use it a few times to keep it 'live' - and don't forget to activate it.
  • Socajam
    Socajam Posts: 1,238 Forumite
    1,000 Posts Second Anniversary Name Dropper
    Use is to pay your Council tax
  • Socajam said:
    Use is to pay your Council tax
    And lose my £2.25 a month cashback from Santander.
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