Should I cancel these credit cards?

wiseonesomeofthetime

It is almost as if they are saying they don't want your business without actually saying they don't want your business!

There are many threads and posts about Barclaycard (and no doubt others) doing the same to many who haven't necessarily cleared their accounts, like you have.

Personally, I would still keep them and maybe use it to add £20 to my Iceland Bonus Card, and pick up a £1 Savings bonus on the way (effectively 5% cashback), each month, paid in full on receipt of statement of course.

That it what I did with my mainly unused backup credit cards, just to keep them alive, and continue a good credit history.

phillw

wiseonesomeofthetime said:

It is almost as if they are saying they don't want your business without actually saying they don't want your business!.

If they didn't want your business then they would just close the account.

If you only spend £50 a month on a card and pay it off every month, then why would they give you a £5000 credit limit?

[Deleted User]

wiseonesomeofthetime said:

It is almost as if they are saying they don't want your business without actually saying they don't want your business!

There are many threads and posts about Barclaycard (and no doubt others) doing the same to many who haven't necessarily cleared their accounts, like you have.

Personally, I would still keep them and maybe use it to add £20 to my Iceland Bonus Card, and pick up a £1 Savings bonus on the way (effectively 5% cashback), each month, paid in full on receipt of statement of course.

That it what I did with my mainly unused backup credit cards, just to keep them alive, and continue a good credit history.

£350 is their starter credit limit for their prime product.

Yes, they want business but they also want to led money to someone who will use it and can afford to pay them back. If they've reduced the limit drastically, they either don't think you'll use it or will have trouble repaying (or a combination)

I would personally get rid unless you plan to use it and see if they raise it again. A £350 credit limit if okay to start off but will drag your average limit down if others are higher.