Should I close my credit cards?

daveb80

Hi,

I have read the article on this site about old credit cards (http://www.moneysavingexpert.com/cards/cancel-unused-cards) and have a quick question.

I currently have 2 credit cards. One I havent used in literally 5 years and another that I use fairly regurly but now aim to not use anymore.

The one I havent used is a 0 balance and the other is £100 (so I will clear it next month). I was just wondering is it best to close any of these cards or both? I saw on the article that it is good to close them, but then again would it be good to have at least one open for my credit rating?

I (hopefully) will try to get a mortgage soon so any ways to aid that would be great, so I wondered if keeping these open or close them?

Many thanks

latecomer

Personally I'd close the one you dont use and keep the one you do. Its always handy to have a card available if you need it and it will help with credit rating too of course. Remember as long as clear the full balance each month there is no harm or cost in spending on your card.

XXXX

I do not even remember how many unwanted credit cards I have cut up over the years, but still a handful of cards available in hands. I choose which 2 to carry at a time, purely depends on how much incentives to use. :j

If you only have 2 credit cards, it is always handy to have a spare one. In case something goes wrong unexpectedly, when you are somewhere paying for the bill.