# Cancelling credit card



## ondeball (15 Jun 2011)

I recently started moving all of my finances to Ulster Bank and, as part of this, I opened a new credit card account with them.

I had planned on putting my AIB Mastercard to bed but I'm having second thoughts now, just in case it ever becomes convenient to have two.

Anyone any opinion on if I'd be as well to just cancel the AIB one and subject it to the scissors?


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## gipimann (15 Jun 2011)

If you have 2 credit cards, you'll have to pay 2 Government Stamp Duty fees (€30 each).


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## ondeball (15 Jun 2011)

Good point, had not even dawned on me.


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## G.Weatherwax (22 Jun 2011)

If you have a high limit on your card with AIB I'd keep a hold of it (but put it away somewhere) just in case you found yourself unable to get a card with that high a limit again


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## nigey (22 Jun 2011)

This a bit off the point, but is it possible to cancel your credit card when you still owe money on it?


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## peteb (22 Jun 2011)

nope. you can't close it until its clear.


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## SteveBliss13 (28 Jun 2011)

In my experience it really depends on your situation. A lot of people have 2 but it sounds like you should be ok with just one.


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## brenglee (7 Jul 2011)

You can close your credit card if it has a balance on it, with AIB anyway


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## SFOasia (6 Jan 2012)

You must do the comparison like which card charges less as interest rate and transaction fee as nill or very low.After only take any option.


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