Should I Close an Unused credit card?

dbmabz

Closing unused cards can make sense. Any new credit provider will look at your credit report to see how much credit you already have access to in relation to your overall income. If you have too much credit available to you, you maybe turned down for any new loans or cards.

If you are not going to use the Vanquis card, and ideally you wouldn't at those interest rates, then consider asking Vanquis to close the account

[Deleted User]

dbmabz said:

Closing unused cards can make sense. Any new credit provider will look at your credit report to see how much credit you already have access to in relation to your overall income. If you have too much credit available to you, you maybe turned down for any new loans or cards.

If you are not going to use the Vanquis card, and ideally you wouldn't at those interest rates, then consider asking Vanquis to close the account

You may, but equally, you may not. Income to available credit is one factor of many, I have not had issues getting new cards or having increases despite my total available credit being probably close to or more than salary

You don't pay interest on cards if you pay off in full every month

ferreroreeses

Agree with previous replies, better to use it 1-2 times a month than to close the account.