Should I close 1 of my 2 credit cards 26 April 2021 at 10:47AM edited 26 April 2021 at 12:42PM in Credit cards 4 replies 321 views

pioneer22

I've got 2 CC's one with Barclaycard and has a 5100 balance and one with 0 balance and a limit of £4000 with Vanquis

If I close the Vanquis one, is this likely to open up the credit market for a balance transfer card? I want to clear the Barclaycard one as the interest is quite high. 

maxximus75

I'd keep both cards...... if you close the unused one. your credit utilization will go through the roof.

RBYHS

Leave them open. Run an eligibility checker and see if you if you are eligible for a balance transfer card. 

RandyGold

I am also thinking that it will be better to leave them open

datlex

If you have are paying interest might be worth looking at balance transfers.  Also,  if you don't have a Mastercard backed card you might want to see if can change one of cards for one of those.  Not for extra spending but so you have options if the visa card system goes down.