What should I chuck?

stacey21_2

Hi everyone...

Need a little advice here, that will hopefully get my credit rating back up to scratch.

I currently have (in use):

A car loan from Egg
Credit card from Halifax
Credit card from MBNA
Overdraft

I also have :

An Oasis card (paid by DD debit every month - havent used for about 2 years)
A USC card - only £18 on this
A Debenhams card - no money on this.

Should I pay off the cards I dont use regularly and close them all?
The two other cards I have are maxed and I am currently trying to pay as much as I can every month.

Would it be better for me to buy something from Debenhams every month and pay it straight away and close the other ones? Or close them all?

Thanks

:beer:

lynsayjane

hi, not an expert but get rid of all the store cards. they contribute to possible debt on your credit search. plus they are terrible temptation while you are getting out of debt.

if you post your soa and details of your debts we can have a look and see if we can't help you sort out the rest. just see southernscousers sticky post at the top of this forum.

rog2

I agree with LynsayJane - get rid of the store cards ASAP - they usually carry the most interest:beer:

WesternExpress

I agree to get rid of the store cards, especially as you aren't really using them.

stacey21_2

I thought keeping one of the store cards and buying one (small) thing every month would help get the credit rating back up as it is showing I am paying off every month etc? (missed a payment on CC when i lived in a flat and wayward postie decided not to deliver mail a few weeks in a row!!)

CLAPTON

why do you believe your credit rating is poor?

are you
employed
on the electoral roll

do you :
have a bank a/c
have no defaults/CCj
have no late payments
have a landline

and
why do you want to improve your credit rating?

stacey21_2

I know its poor because I had applied for a card and got knocked back and purchased my report and score from Equifax and it said so :-(
I am employed yes and up until recently was not on the electoral roll for my new house, and that is being updated on the 1st Dec apparantly.
I think if anyone knew they had a not-too-clever rating they would want to improve it :-)