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Cleared Credit Cards
fi500
Posts: 1 Newbie
in Credit cards
This might be a stupid question so i apologise in advance!!
I have recently received some inheritance money and have managed to clear off my 3 credit cards. I was planning on not cancelling them (but only using one of them and paying the balance off in full every month) as i heard this gives you a bad credit rating - don't know if this is true or not?! I would like to decrease the limits on the cards, would this also affect my credit rating? I will be applying for a mortgage next year which is why i am asking. I would like my credit rating to be as good as it can be!
Thanks for the help! :beer:
I have recently received some inheritance money and have managed to clear off my 3 credit cards. I was planning on not cancelling them (but only using one of them and paying the balance off in full every month) as i heard this gives you a bad credit rating - don't know if this is true or not?! I would like to decrease the limits on the cards, would this also affect my credit rating? I will be applying for a mortgage next year which is why i am asking. I would like my credit rating to be as good as it can be!
Thanks for the help! :beer:
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