Lots of credit card closed accounts - good or bad

JA1000

2 houses involved, one I live in and the one I built, was hoping to do a buy to let so I could remortgage and pay off cards before 0% ran out. However, started building in 2008 and finished 2009 when market had completely collapsed around BTL lending and LTVs, still hasn't recovered so I am getting on with paying the cards. Just resent paying the interest at these levels and annoyed they keep reducing my limit, I guess they are probably doing it to lots of people on min payments which I was for a time.

tez_c

I think as long as all your accounts have been in good standing it's actually a positive rather thana negative - all it shows is that you took out credit and paid them back. Which shows the new lender that you are reliable and able to pay back your loans in a responsible fashion.

INT1

You could have 100 closed accounts or 10 closed accounts on your file, it doesn't matter.

What the are looking for is your current commitment levels and also what your Open to buy is on these products, Low commitment/high open to buy is not a good thing to have, so reduce your dormant accounts credit limit or shut them down.