Do I keep my credit card?

Cancel the account and throw it in a paper shredder. Or at least hack it to bits with scissors.

Well, that's what I would do, anyway. The interest rates on credit cards are a total waste of money.

If still valid keep it - you may want to use it again - they are reusable. If you don't intend to use your credit card ever again - cut it up and throw away. Inform your bank as well that you wish to cancel your credit card otherwise they will just automatically send you a replacement one when the current one expires.

Credit cards are not necessary, though can be useful. The trick to using credit cards effectively is paying back as much as you can as quickly as possible. People get themselves into difficulties with credit cards because they spend more then they are able to pay back. Or they just pay back the minimum amount each month so the debt escalates simply due to the high interest rates.

I find credit cards useful for booking holidays or buying stuff online - you have added security should something happen (e.g., goods do not arrive, holiday company goes bust). I however always settle the whole bill as soon as I get my statement thus incurring no interest rate charges.

As long as you use it sensibly you need a credit card. Use a card with no charges (as long as you pay it off every month). Always pay for major items with the card - most credit cards cover you if anything goes wrong with transctions (check out the cover with yours). I have been to some places in the US where they won't accept cash - only credit card. I can see in the future that it will be the same in the UK and shops just won't keep cash on the premises so, yes, we will all have to use them. Cheques are accepted in very few places now and credit card is the only way to pay for some items such as flights bought on-line. Whether we like it or not, in the future we will all need a credit card to get by.

If you have plan to not use credit card in future then use must cancel it, otherwise you should keep it and use later when you need, but with care so no other use it.

It is a revolving loan. Lasts for as long as you (or the provider) are happy for it to last.

Never heard of anyone giving back a credit card

I have one and only use it when I know I can clear the amount each month, I have had it for 7 years and not once paid any interest.