Question about my credit file.

kindofagilr

Way back when I got into loads of bother with my credit, I ended up with 3 CCJs and about 8 defaults (store cards, loans etc)

Well finally on the 31st Jan this year my credit file was finally rid of all the badness (6 years later) :j :j

My credit score soared (as I had managed to get a capital one credit card in 2004 (which I was so grateful of) and I had a catalogue and I just got a contract phone in december)

I have totally learnt my lesson and am quite hot on my money now.

I have just got a mortgage with my fiance (who also has a fab credit score) I got accepted for a M+S credit card (0% for 10 months which we are going to use for house things, we are first time buyers) we applied for a joint account with Lloyds (who my fiance was already with) and got one, and they also gave me a credit card (which I am going to keep for total emergancies)

So basically I dont want to use my capital one card anymore, so I am thinking about ringing them and cancelling it, but am worried as I would imagine the first year in our house is going to be kinda tough figuring out how much we need for bills and sticking to a budget etc when we need to decorate etc

My main question is, will it make my credit file/score look bad if I have 3 credit cards on file but have a low or no balance on them?

Thanks guys

lxpeanut

Most go on available credit so yes if you have multiple cards even if they are unused they will count against you. What you really need to ask yourself is if you maxed out all the credit you have now would you be able to pay it off and do you really want to be in that position again?

kindofagilr

Thanks,

Yes we could def pay them all off, the CP1 only has a limit of £800, and the Lloyds one is £1750, M+S I dont know yet, I dont know my limit till the card comes (so far I only have the PIN), obv I dont want £4k debt on cards, but if they got maxed we could afford to pay them off.

None of the two cards I have have any balance at all.

So I should cancel the CP1 card then? and should I cancel the catalogue cos I dont use that anymore and thats has a nil balance as well?

boopydoo

just giving this a bump as I'd love to know the answer myself