Credit card question..

schoolrunmum

I read somewhere recently that it's not good for your credit rating to have credit cards but not owe anything on them. I have several cards that I don't owe on and wonder if I should cancel/close them...any advice?

BenL

Here you go, Martin has written an article that should help you out.

http://www.moneysavingexpert.com/cards/cancel-unused-cards

schoolrunmum

Thanks Ben-I'll cancel them then...

NewbieMoneySaver**

That's what I would do. I have been in the same situation recently and have now calmed down a bit with them and now only have the ones with the balances on them.

BenL

I went from 4 to 1 or rather am in the process of doing.

Nationwide CC is staying as ever but the Skycard £10,000, Barclaycard (ex Goldfish) £2,700 and Amex £2,100 are all being binned off.

I only got the latter two due to Quidco, frees some "space" up for another round of cashback in the future.

schoolrunmum

Done-cancelled 4 cards...thanks all...boy, did they try to persuade me not to though...!!!!