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Does owning store card damage Credit Scoring?
spring85195
Posts: 56 Forumite
in Credit cards
Hi there,
I a store card from IKEA which I never use after the first time.
The balance on it is zero, I havn't touch it since then.
I do use it to get some free drinks at IKEA london when I want to get something for my home.
Should I cancel it? In case it damage my credit score.
I a store card from IKEA which I never use after the first time.
The balance on it is zero, I havn't touch it since then.
I do use it to get some free drinks at IKEA london when I want to get something for my home.
Should I cancel it? In case it damage my credit score.
0
Comments
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Only you can answer whether you should close it or not. It depends on whether you are planning on trying to get more credit any time in the future, and what risk or rating you have just now based on your history and available credit. If you don't use the card, then the lenders will still see that you have £x amount to spend if you wanted to, and this is what countsa against you when trying to get new cards or loans, etc, but mainly it's past history.
J0
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