What to do at the end of my credit card?

Bluey87 · 2 June 2020 at 10:40AM

Hi everyone,
I have had a credit card with a provider for some time now that I have been paying down within the 0% period we bought all the materials for our bathroom with the card. Its got one small payment left.
In order to keep my credit file as strong as possible what should I do with the card now? Should I cancel the account or should I keep it open? I dont actually use the card so should I get them to send me one and use it for purchases to bolster my credit file?
I do have another card which I bought a car with for my partner and we pay that down each month so in total I have two cards which we have used/are using diligently.
Thanks

D3xt3r5L4b · 2 June 2020 at 11:11AM

Keep it. Use it regularly and pay back in full after each statement.

MallyGirl · 2 June 2020 at 11:48AM

yep - just keep it ticking over and set up a DD to pay in full

cymruchris · 2 June 2020 at 11:51AM

If you're not planning on any big credit purchase over the coming years (such as a mortgage) you could if you wished, close it down, and keep just your other card operational, however it's always good to have a backup for emergencies. Additionally if you're thinking of any major financial decision sometime soon, it'll be better to keep it open. More available credit is a positive factor in the majority of applications. If you've previously cut up the card, get a replacement, use it for your monthly spend, and then pay it off in full every month without fail, that'll further demonstrate your ability to manage accounts well (although you're doing that already evidently).