Cancelling Credit Cards

bombalurina_2

Hi All,

I have been successfully balance transferring several thousands of pounds on 0% credit cards since I moved home a couple of years back. I know have an IF, Natwest, BOS and Halifax credit card - BOS is my current transfer and Halifax is the one I use for day to day purchases. The other two I do not use but keep “just in case”.

My current mortgage deal is up come March and I will be looking at getting a better deal from another provider.

Would I be better off cancelling the two unused credit cards in the hope of getting a better credit scoring or will it make little or no difference.

Also, my latest balance transfer is up around the end of February. Will I be better off applying for a new card and transferring or clearing the balance before then (I now have the cash for this available)? Bear in mind that this will be the time I will have to have credit scoring done for a new mortgage etc.

Any advice greatly appreciated.

Cheers,

B

Gordon_the_Moron

Pay off the balance instead of transferring it if you can. I doubt a couple of credit cards would make that much difference to a mortgage but it depends on the credit limits, if you are certain you'll never need them cancel them just in case.

bombalurina_2

Gordon_the_Moron wrote:

Pay off the balance instead of transferring it if you can. I doubt a couple of credit cards would make that much difference to a mortgage but it depends on the credit limits, if you are certain you'll never need them cancel them just in case.

Even if I can transfer it to another 0% without BT fees?

Cheers, B!

Joe_Bloggs

@bombalurina.
Are you stoozing or are you just building up debt ? When remortgaged last year I had to pay off my stooze or lose the mortgage deal. It is all probably down to the amounts of money involved. The equity if your property can work for you providing you don't spend it on credit cards.
Halifax, Bank of Scotland and Intelligent Finance (IF) are components of HBOS. Natwest is RBOS. I have shut down a HBOS account and been able to reactivate it for 0% deal six months later for purchases. Sainsburys bank credit cards are backed by HBOS.
J_B.