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    • Delius
    • By Delius 15th Jan 20, 4:04 PM
    • 5Posts
    • 1Thanks
    Cancel my credit card?
    • #1
    • 15th Jan 20, 4:04 PM
    Cancel my credit card? 15th Jan 20 at 4:04 PM
    I have a credit card that I haven't used for about 6 months. My reasoning, and it seems quite silly I know, is mainly because the provider doesn't offer Apple Pay (also the rates are pretty high, I never set up a "pay it all" direct debit, and there are absolutely no cardholder benefits).
    My question is as per the thread title : should I cancel it? There's a limit of 3500 and I guess I'm never going to "get it back" as such if I cancel, but I do have other cards should I need emergency funds at some point.
    The main thing I don't know is whether there's a theoretical negative impact on my credit record for keeping but never using a card - or conversely a positive one for having a line of credit but not needing to lean on it.
    Any thoughts? Thanks in advance.
Page 1
    • zx81
    • By zx81 15th Jan 20, 4:34 PM
    • 24,794 Posts
    • 27,681 Thanks
    • #2
    • 15th Jan 20, 4:34 PM
    • #2
    • 15th Jan 20, 4:34 PM
    It depends. If you have plenty of others, no debt and more than a minimal income, you could cancel it without any ill effects.
    • Ben8282
    • By Ben8282 15th Jan 20, 5:59 PM
    • 4,764 Posts
    • 2,629 Thanks
    • #3
    • 15th Jan 20, 5:59 PM
    • #3
    • 15th Jan 20, 5:59 PM
    Your reason for cancelling this card is rather strange. Most people consider credit cards in terms of the benefits or rewards offered by a particular card not in terms of if it can be used with apple pay (or google pay as was the case on the other recent thread when the OP wished to cancel their card for that reason).
    If this card really is useless to you, no decent 0% offers, no rewards such as cashback or avios or other, no benefits such as no FX fees etc, then the credit limit is pretty low anyway so you might as well just go ahead and cancel it.
    As for the impact that cancelling this card may or may not have on your credit files, from the information provided it is impossible to comment.
    • Delius
    • By Delius 17th Jan 20, 10:22 AM
    • 5 Posts
    • 1 Thanks
    • #4
    • 17th Jan 20, 10:22 AM
    • #4
    • 17th Jan 20, 10:22 AM
    Yes I conceded that my reasoning might seem a bit silly. But there's a convenience for me in being able to pay for regular stuff like fuel in that way without needing to carry all my cards around, and as I mentioned there are zero other 'benefits' to having the card.
    I recently checked my credit score on Experian and it's in the "excellent" segment so from what's being said here, and since I have several times this amount available on other cards, it sounds like there should be no real impact from cancelling it.
    Thanks for the answers.
    • 2e0arr
    • By 2e0arr 17th Jan 20, 11:48 AM
    • 637 Posts
    • 336 Thanks
    • #5
    • 17th Jan 20, 11:48 AM
    • #5
    • 17th Jan 20, 11:48 AM
    i don't have apple pay . am i missing out on some fantastic benefit ?

    Baldrick is there a Turnip pay ?
    • born again
    • By born again 17th Jan 20, 5:28 PM
    • 1,367 Posts
    • 759 Thanks
    born again
    • #6
    • 17th Jan 20, 5:28 PM
    • #6
    • 17th Jan 20, 5:28 PM
    no cardholder benefits

    If your not using it, and you appear to not be happy with it. Might as well dump it and look for one that you will be happy with.

    A unused account is a higher fraud risk, as they tend not to be checked very often.
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