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Credit Utilisation and closing card
molotour
Posts: 12 Forumite
in Credit cards
Once I have paid off a credit card debt on a balance transfer card is it best to close the card or keep it open ? I am thinking if i leave it open I would have a higher credit limit on my credit file and therefore a lower utilisation percentage.
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Comments
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Yes you are correct in your thinking. If you're confident you won't spend on the card and run up an extra balance - keep it openmolotour said:Once I have paid off a credit card debt on a balance transfer card is it best to close the card or keep it open ? I am thinking if i leave it open I would have a higher credit limit on my credit file and therefore a lower utilisation percentage.
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