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Should I Cancel A Card?
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Jakg
Posts: 2,267 Forumite
in Credit cards
Currently have 3 cards for the small benefit they provide (cashback etc), and to improve my credit score.
Cards are:
Amex (Rewards one) - £1k limit - Basic rewards points, used for day-to-day spending.
BarclayCard Initial - £800 limit - Get Freedom £ for using it to get my fuel, nothing more.
CapitalOne Classic - £800 limit - No bonuses, rarely use it.
Don't ever use the CapitalOne card - originally it was my first card, and started off with a £100 limit... but they've upped that to £200 and now £800 without asking me.
Do I keep it, or close it? I work part time and my annual income is ~£3,860. I'm just slightly worried that a lender will see I have instant access to over 67% of my salary in credit, and wont want to lend any more.
Not looking to apply for any loans / mortgages any time soon, but I thought the earlier I started getting some green 0's the better.
Cards are:
Amex (Rewards one) - £1k limit - Basic rewards points, used for day-to-day spending.
BarclayCard Initial - £800 limit - Get Freedom £ for using it to get my fuel, nothing more.
CapitalOne Classic - £800 limit - No bonuses, rarely use it.
Don't ever use the CapitalOne card - originally it was my first card, and started off with a £100 limit... but they've upped that to £200 and now £800 without asking me.
Do I keep it, or close it? I work part time and my annual income is ~£3,860. I'm just slightly worried that a lender will see I have instant access to over 67% of my salary in credit, and wont want to lend any more.
Not looking to apply for any loans / mortgages any time soon, but I thought the earlier I started getting some green 0's the better.
Nothing I say represents any past, present or future employer.
0
Comments
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Currently have 3 cards for the small benefit they provide (cashback etc), and to improve my credit score.
Cards are:
Amex (Rewards one) - £1k limit - Basic rewards points, used for day-to-day spending.
BarclayCard Initial - £800 limit - Get Freedom £ for using it to get my fuel, nothing more.
CapitalOne Classic - £800 limit - No bonuses, rarely use it.
Don't ever use the CapitalOne card - originally it was my first card, and started off with a £100 limit... but they've upped that to £200 and now £800 without asking me.
Do I keep it, or close it? I work part time and my annual income is ~£3,860. I'm just slightly worried that a lender will see I have instant access to over 67% of my salary in credit, and wont want to lend any more.
Not looking to apply for any loans / mortgages any time soon, but I thought the earlier I started getting some green 0's the better.
First of all i am quite surprised you have a Amex credit card on a salary of £3,860.
Just keep em and spend a tiny bit and carry on building your history...0 -
First of all i am quite surprised you have a Amex credit card on a salary of £3,860.
Just keep em and spend a tiny bit and carry on building your history...
Heres the secret...Nothing I say represents any past, present or future employer.0 -
I see did not know that, i have always put my salary down under income,never i have i put my OH's down...0
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