Should you keep a credit card you dont use?!

[Frankieola]

I've got 2 credit cards which I no longer use and that have nil balances on them for a couple of months now, one has a limit of �500 and the other �350.
I've kept them on as a bit of a safety net but would I be better off just cancelling them? What would look best for my credit report? I've got other credit cards too that I use and pay. Thanks

[Mrs_Pegasus]

If you had large limits on your credit cards then "yes" they do impact on your credit scoring because they reduce the amount you could borrow from elsewhere regardless of having zero balances. However, with such small amounts there is no harm in keeping them for emergencies.

[Sweet G]

Mrs P is right. Also if you regularly transfer credit card balances and you cancel the unused cards you will open yourself up to new offers once a certain time has elapsed 6-12 months usually. OTOH keeping these cards means you can access transfer balance deals as an existing customer if you are unable to get new card deals. Although if you have good credit you shouldnt have probs with new deals.

[Whoever]

One of my relatives has just had his Barclaycard cancelled because he hasn't used it for quite a while and only keeps it for emergencies to use when on holiday abroad. . He applied to them for a new one and it was turned down.
I think increasingly credit card companies are getting very discriminatory about their customers and are not just turning down those who can't repay their debts but people like yourself who just keep some cards for emergencies. It might pay you to try and use them regularly, if only for small amounts, or occasionally to put a week's shopping or a petrol bill on them, just to keep them in use. Otherwise you might find that they are withdrawn and then they won't be any use to you, even for emergencies.

[Chasingcars]

Its the credit card companies ''responsible lending" practice which means they regularly review customer accounts and cards not in used could be open to fraud so they give you notice to close them down.
I have over the years accumilated many cards - some used to offer cashback, some gave Nectar points, some had 0% apr, but I only use one card now and in the last 2 months I have 3 of the credit card companies write to me and say they will close the account if there is no spend.
My credit rating is very good so no issue with them closing them down. Also stops me getting silly pointless statements every month saying I owe nothing!