Watch for Annual Charge

[enaid]

I have read that a few credit cards are reintroducing the Annual Fee.
My HO has a Cap1 card with nil balance, as it has been for a while, he hasn't had any statements for a while up until this month and I thought maybe he has had this as a reminder and maybe next one will have an annual charge on it. This is only me being suspicious mind, I don't know for definate.
I have a few cards though with nil balance, I did a bit of tarting. I will be cancelling those cards now as they have served their purpose.
This is just a little suggestion, that if you have nil balance cards that you can live without, don't just cut em up cancel them. This is just my opinion Enaid x

[Nattie]

Enaid i am quite pleased you have brought this up because having credit cards with a nil balance will affect you chances of borrowing as well because as far as the banks credit scoring is concerned you have more borrowing, ie if you have a credit card with £2500 as a limit, the ability to use that limit can potentially restrict any borrowing(and I do mean a loan) as a result of it. Good advice. Nil balance get rid.

[Goldlady]

That is so bizarre nattie I hadn't thought of that. In a similar way if you have no debt at all your credit rating is really bad. Client of mine took out a loan with your lot just so he could build up a credit rating. My mother who has never had a debt in her life has bad credit rating as doesn't owe anything to anybody.