Advice on cleared cards please

tonyh66

Hello, I have 2 credits cards with zero balance on them. Will it improve my credit rating/ chances of getting another card if I close the accounts?
The credit limits on the cards are £10K and £2.5K

smartiedriver_2

HI, yes, it almost certainly will. However, be wary of closing them if your credit rating is already poor, as you will then be unlikely to get another.

tonyh66

Thanks, my credit rating is good (I think), one card was used for stoozing and the other is a long term Egg card

CLAPTON

no it won't improve your credit rating

and many decent cards require you to have at least on CC before they will consider you
so don't cancel both

if the egg card is a egg money card with 1% cashback then I would keep that (at least until barclays cancel the cashback)

two cards is hardly excessive; many report having half a dozen and still are never refused new ones (including myself)

climbgirl

It depends what the amount of available credit you have (£12.5k) is in relation to your salary, they usually look at that when making the decision re. new cards.

Say for example you earn £25k, that's a high proportion of available credit in relation to your earnings. If your salary is a lot higher, it'll be easier to get more credit.