just a quick question????

wrighty0__3

ive had a tesco credit card for nearly the last 12 months, it was 0% for 12 months and i only got the card to pay my car insurance. i have 3/4s of the balance outstanding which is sat in an account waiting to be paid off before the 12 month 0% period is up. my dilema is im looking to purchase a house in the next 6 months, and my car insurance is due again at the beginning of june. My plan was to pay my tesco card off in full and then apply for the M&S card for next years insurance. now because im looking to buy a house im trying to keep my credit rating good, im just wondering what the best way to do this would be, do i pay my balance n close my tesco card, or will it not matter if i have this card and apply for a M&S 1?

chattychappy

All guesswork really, but on balance I would keep the Tesco account open.

CLAPTON

when you apply for a mortgage it's best to have zero debts

wrighty0__3

So running 2 credit cards won't effect my score? I know ideally I'll have paid my insurance off before I look to buy,

YorkshireBoy

wrighty0__3 wrote: »

So running 2 credit cards won't effect my score?

Mortgage lenders are concerned with 'actual' debt and not 'potential' debt, so the number of cards shouldn't affect their decision.