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Close or keep CC?
gettingtheresometime
Posts: 6,911 Forumite
I've just a balance transfer between credit cards to take advantage of a 0% deal and am now wondering what to do with the cleared CC.
Do I close it down or keep it in the hope that I get a 0% deal from them that I can use to clear a 3rd CC?
Whilst I know credit scores a mythical number, what effect on my credit rating would closing/keeping it have?
(There is absolutely no chance of me racking the balance again as I was only using it for the Avios points and now they've disappeared!)
Do I close it down or keep it in the hope that I get a 0% deal from them that I can use to clear a 3rd CC?
Whilst I know credit scores a mythical number, what effect on my credit rating would closing/keeping it have?
(There is absolutely no chance of me racking the balance again as I was only using it for the Avios points and now they've disappeared!)
0
Comments
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It depends on how many cards you have and what kind of limits you have. It also depends on how long you’ve had the account.1
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I do have a lot of cards ☺️ but most of them are only about 18 months old, having opened them to take advantage of 0% deals. Some of them have come, or are coming, to an end & I'd have no hesitation in closing them if I could transfer the small (less than £1k) balances.
As I said, I only kept the card to take advantage of the avios points I could earn but as that 'perk' has ended perhaps I've answered my own question.0 -
Long-standing accounts that are kept in good order contribute to your positive credit history. If it’s a relatively recent card - and you have a lot of cards - then yes you’d be safe to close it.If it was your oldest card - I might be inclined to keep it.1
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