HELP!! Ditch the AMEX Platinum? Non-use damage credit score? Cancel cards?

rossyl

Hi,

I've got an
- HSBC CC (never use it, in over 2yrs)
- Nationwide CC (use it fortnightly)
- AMEX Platinum Cashback (haven't used it for about 9months after fraud)
- Egg mastercard (cancelled due to non-use for 2.5years)

I'm wondering if i should cancel the HSBC one, as I never ever use it? Is it damaging my credit score?

Also the AMEX card, I got it 18months ago. My annual spend is likely to be £6-8k (dependant on who else stops accepting it!).

Is the AMEX likely to offer me any benefit? Is the cashback so low it's not really worth it? Or should i just use the nationwide from now on?

Thank you.

Moggles_2

Obviously, I don't know your annual income, but three credit cards in total (the Egg card doesn't count since that's closed) is not excessive. I believe the national average is five and many of us here have seven or eight credit cards on the go. As long as you're getting the cards and credit limits you want, I wouldn't rush to close any down.

That said, with each successful credit card application, your available credit will increase in relation to your income and there will come a point in the future when you must consider closure of a credit card you no longer use.

lisyloo

One valid reason to close the AMEX is that you can apply again for their 5% offer later on.
I'm assuming you've had your cashback from it.

I've not had big problems having it accepted but it does rather depend on where you shop.