Get rid of cards for better offers?

James-may

I'm wondering what to do, I have 7 credit cards.
3 virgin
1 aqua
1 vanquis
1 NatWest
1 Barclays

I have a balance on NatWest, Barclays and one of the virgin ones, 2 of them 0% for next 2 years, virgin for another year.

I'm was going to get rid of vanquis, and 2 virgin cards as I don't need them as standard interest is high and no new offers seem to be coming on them.

Aqua is handy as it allows 6 months interest free on cash withdrawals, in case something comes up and I transfer it straight to an interest free card.

My question is, am I right in closing unused cards?
I've also heard having a card sitting there unused lowers my available debt usage.
So I'm torn what to do.

In 2  years I should be left with maybe 5k of cc debt moving to full interest so looking to transfer again, but 6 months after that my mortgage will be paid off do will have more funds to throw at the debt.

Anyway, what's everyone's advice?
Thanks a lot 

Brie

I agree with your thinking about getting rid of the 2 virgin cards and the vanquis. 

I don't quite understand the need to keep the aqua one if you have 0% available elsewhere.  

But I would have one set aside for purchases and ensuring that card is paid off in full each month (one way or another).  Suggest something from an unrelated bank like Santander or MBNA?  So transfers are possible should they be required.  

The problem is having too much available credit that will stop you from getting a good deal on new credit.  Add to that the fact that Vanquis and Aqua are more at the bottom end of the CC market and having either gives a certain "high risk" air to your file - should someone examine it in detail.  

But good to see you've got a plan and are working towards a debt free life!  

James-may

Thanks for that, yeah, might just get rid of them.
Aqua is handy just so I can withdraw cash for 2% fee, then balance transfer it yo a longer interest free card, you always get 6 months interest free with aqua, at least I do.
But yeah, might just be worth closing most down.
Thanks