just wondering

vintagegirl

i went a bit account opening happy when my credit report bettered and i have 12 catalogues now (only 2 have a balance on them though). Is this too many? can this go against me? Most have £200 limit, x

jonesMUFCforever

Over what timescale did this happen?

As long as you pay on time it won't damage your rating but having too much (in the eyes of the lenders) can be as bad as none at all at times.

vintagegirl

theyve all been open since april, loads of green ticks. I dont use them, only the littlewoods and the very ones x

jonesMUFCforever

I would lay off any new applications until the end of the year.

vintagegirl

yeah i dont want anymore, just found it amusing one night to see what i would get offered haha. x

Tixy

Its a lot of open accounts, even with small limits. I would close down any you are not using and are not likely to.

david39

Yes, close the ones you won't need so that it doesn't limit the credit level that a new lender might offer.
If you have 12 accounts with a £200 limit on each, a new credit request to a lender would show up that you already have a £2,400 credit line available to you.
The new lender might possibly deduct that from any credit level that they would normally offer you as, theoretically after being granted their credit, you could then go out and spend a further £2,400