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Cards and overdrafts - when to cancel?
Claw_back_money
Posts: 848 Forumite
Hi all
We've been making some progress with the debts, which currently stand at:
Int rate Max cred avail Bal end April Target end May
Flexiloan 16.8 500 £0.00 £0.00
Current 18.8 1500 £837.69 £500.00
Visa 16.9 10000 £7,390.58 £7,290.00
Joint 17.9 3900 £3,686.18 £3,600.00
Goldfish 4.9 2100 £1,899.01 £1,850.00
So, there is quite a bit of 'slack' in the accounts. Is it ever sensible to close accounts or to reduce the credit or overdraft limit, or is it better to have it sitting there 'for a rainy day'? I can't find any suggestions in the :money: docs.
Cheers
Cbm
We've been making some progress with the debts, which currently stand at:
Int rate Max cred avail Bal end April Target end May
Flexiloan 16.8 500 £0.00 £0.00
Current 18.8 1500 £837.69 £500.00
Visa 16.9 10000 £7,390.58 £7,290.00
Joint 17.9 3900 £3,686.18 £3,600.00
Goldfish 4.9 2100 £1,899.01 £1,850.00
So, there is quite a bit of 'slack' in the accounts. Is it ever sensible to close accounts or to reduce the credit or overdraft limit, or is it better to have it sitting there 'for a rainy day'? I can't find any suggestions in the :money: docs.
Cheers
Cbm
Jan 08: Debt £15,211 :eek: Debt cleared April 30th 2010 
Proud to have dealt with my debt! Currently building up savings.:T
With enormous thanks to everyone on the forums and:money:
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