#22

Not really, but I think it’s probably marginally better to leave it open and not use it than to not have one at all.

#23

Didn’t realise your surname is Reminder.

#24

Please don’t blow my cover, thanks.

#25

Just opened a cash ISA pal.1.4%. 2 withdrawals per year. Bosh

#26

:tada: :fireworks: :sunglasses: :tada:

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#27

Could make upwards of £4 juicy profit per annum.

#29

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#31

#32

I wouldn’t let the tail wag the dog when it comes to credit ratings. If you need/want the credit card, keep it open, otherwise close it.

I routinely close my credit cards when I’ve either paid the balance off or the interest free period has come to an end & I’ve transferred the balance to another interest free card. You can always reapply for that card in 6-12 months as a new customer and take advantage of interest free purchases/balance transfer introductory offers all over again that way.

You have to brace yourself for the tedious conversation and referral to their retention team mind, but it’s the cheapest way to manage debt. I never pay interest - only ever the 1-3% balance transfer fee at the outset (and after a month or so this has usually paid for itself).

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#34

Whether something is a debit or a credit balance depends on the frame of reference. I reckon you actually have a credit balance on your credit card.

#35

Also, a score is lifted by credit accounts being open a long time.

#36

Ah, interesting xylo. I’ve never seen my credit score tbh - it’s never been an issue as I’ve never been turned down or restricted in an application for credit, mortgage, purchase on finance etc. I think I’ve had the new customer long term interest free offer from barclaycard three times now and they’ve been great for clearing debt and funding big purchases at almost no additional cost.

By the same token, I’ve always been in employment, made at least minimum payments etc, so perhaps that offsets any hit from me effectively not making them any money.

So, I guess it comes down to balancing whether your situation/credit history is such that any hits to your credit score from doing this will put you below the threshold to obtain future credit?

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#38

I had about £12 credit on my credit card recently and I thought that money would come on useful so I’ll just keep it on there until I need it for emergencies or whatever. After a bit the credit card company sent me a cheque and said I’m not allowed to be in credit. So I spent it on beer.

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#39

Meant to buy Red Dead on my credit card to put me into balance but I used to debit card instead. Whoops