Mint card question

CG19a

I've had the letter this morning that my mint card apr is increasing, so my plan is to just tell them to close the card and keep making my usual payment until it is paid off.

My question is, how will this look on my credit file?

Will it show as an arrangement to pay?

Or will my debt look like more than my available credit because the credit facility will disappear?

Thanks.

shop-to-drop

I don't think you can close a card without paying the balance.

cifpower

It won't adversely affect your credit file. When the balance is paid off the account will close and be marked as settled on your file.

nc1873

Just pay off the balance as you are doing without closing the account.

Then cut up your card and don't use it?

Surely easier than wanting to close accounts etc when you have a balance.

Wagesbird

No you cant close card until the balance has cleared ;-(

CG19a

The interest rate is 20.9% and being increased to 25.9%. Apparently all RBS credit cards are being increased in some way or another. What is offered on my statement is that I can close my account, and keep the debt at 20.9% and pay it off under the current terms that I have, I'm just wondering how it will look on my credit file.

CG19a

nc1873 wrote: »

Just pay off the balance as you are doing without closing the account.

Then cut up your card and don't use it?

Surely easier than wanting to close accounts etc when you have a balance.

If I did it this way, I'd have to accept the interest rate increase and pay more for the debt.