Do I still keep my credit cards?

xsoggyx

I have 3 credit cards and store cards with them having nothing on them. Only found out most of them when I did a credit check. Does keeping them make my credit better or worse?

I have 1 card which I am reducing the balance on so my history can be checked.

TIA

MunchkinKel

I would cancel these off straightaway unless you think you'll need them in the very near future.
They can count against your credit rating - as I myself have recently found out! I've just cancelled 3 old credit cards and 1 store card.
Doesnt matter if they have any outstanding money on them, they are all counted.

ChennyM

Do you plan to use the 3 cards in future? If not I's certainly bin them if I was in your situation - credit agencies do not necessarily look kindly upon having oodles of dormant credit.

I'd suggest keeping the one you're paying off right now. It's good to have one to show an ongoing history should you need to apply for credit in future.

C

bengalknights

Definitly close them if you have no intention of using them in the future.

thenudeone

I would leave one card active, use it for your spending, and pay it off in full every month. This will demonstrate that you are capable of handling credit wisely.
If you have no credit at all, that may go against you, as you have nothing to show that you can manage credit properly

xsoggyx

Thanks all for your advice. I will close down the cards I dont use and keep one floating whilst I reduce it. I did move the last to a Tescos card and I am now using that for everything to get the points whilst paying it off.

Having a girlfreind on the Isle of Wight is expensive from Slough but with the tesco points it now means I can see her with free crossings.

More people need to know their Tesco points are worth x 3 times the value in their partner rewards !!