Should I close unused accounts?

Seaxwyn

Hi there

I have three storecard accounts (Dorothy Perkins, TopShop and Monsoon), all of which I opened to take advantage of money off incentives, and have never used. I'm never likely to use them, have never been the least bit tempted. Should I phone up and formally close the accounts, or just leave it. I don't get mailshots so the accounts might even have been closed anyway.

Thanks for any advice you can give.

lynzpower

Absolutely close them down! they will be showing as available debt to you and can restrict the amount of cheap debt ( eg o% cards) that you might be offered. Get them closed - it will improve your credit rating as they will show as settled!!

climbgirl

One thing to note is that storecards are notoriously difficult to close. Apparently you call to ask and they just suspend them, they don't actually close them. So do insist on this and ask to see it in writing...

Phoenix79_2

Definitely close them! Store cards are the Devils own work!

Seaxwyn

Thanks all. I closed them this evening. The chaps in the call centres sounded quite surprised, as if it's not something that happens often.

It was quite enjoyable cutting up the cards (which I had to detach from the letters they'd arrived on first). And I enjoyed creating a new file called 'Closed Accounts' - I hope to file more in there in the months ahead.

moozie_2

Seaxwyn wrote:

Thanks all. I closed them this evening. The chaps in the call centres sounded quite surprised, as if it's not something that happens often.

It was quite enjoyable cutting up the cards (which I had to detach from the letters they'd arrived on first). And I enjoyed creating a new file called 'Closed Accounts' - I hope to file more in there in the months ahead.

Well done on closing those accounts. I agree with everyone else. Anything note used is just cluttering your credit file which is not a good thing!

Well done on the filling and hope lots more go in the new file soon