Should I Cancel my Unused Credit Cards?
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lydon
Apprentice
Joined: 05 Feb 2004
Posts: 12
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 Posted: 10/02/07 - 07:27 Post subject: |
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| I've had my account with one bank for last couple of years. I have recently opened one more account in another bank. They also gave me a new credit card. Because I am using that second credit card now I thought that maybe I should cancel the old one. The costs are not so bad but I don't know if I could use it for anything. Should I cancel my unused credit card? |
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hillyer
Apprentice
Joined: 07 Jul 2006
Posts: 8
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| Posted: 11/07/07 - 04:37 Post subject: |
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| There might be a few situations in which having a spare credit card could turned out useful. Maybe the bank in which you opened your new account is not working on Saturdays and your old one does. Or, maybe your new credit card is not accepted somewhere where your spare card is. There are situations in which that could be very important. Also, you might sometimes get in conflict situation in your new bank. First thing that banks do in situation like that is to close or freeze your account. Moreover, they will not open it for using until the conflict would be solved. That could last, so in that case having a spare credit card could be very useful. |
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