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Credit Card Options
edited 1 June at 11:22AM in Credit Cards
4 replies 183 views
Looking for some advice please on my situation.
My 0% purchase promotional interest rate credit card expires as of 12/06/20, with a credit limit of 12k. The balance on this card was £9000.I opened a new credit card which gave me a credit limit of 4k, so I balanced transferred across 2k from my other credit card to this new card.
I will pay off the remaining 7k by the 12/06 on my old card, so the card goes back to zero balance and I pay no interest.
Problem is now, my other credit card is already near 100% utilisation, as the credit limit is so low.
QUESTION: Should I close my redundant credit card that I no longer use with 12k credit limit and apply for another card or should I just apply for another credit card regardless?
I would do this in a few months so my credit report can settle down with all the new changes and recent hard search from my new card.