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SHould I keep a CC to maintain good credit score?
Sarahsaver
Posts: 8,390 Forumite
in Credit cards
I have just got a loan to pay off my 2 CCs and one overdraft. I was intending to cut up the CCs and never use them again but should I keep one for the benefit of my credit score?
Member no.1 of the 'I'm not in a clique' group :rotfl:
I have done reading too!
To avoid all evil, to do good,
to purify the mind- that is the
teaching of the Buddhas.
I have done reading too!
To avoid all evil, to do good,
to purify the mind- that is the
teaching of the Buddhas.
0
Comments
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No is the straightforward answer.
If you repay your loan on time this will maintain your credit score along other things that are done in the background like mobile phone bills, catalogue bills etc etc.0 -
Destroy the cards but keep the accounts open.553780080
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I disagree, I think it will help your credit worthiness if you keep a credit card and spend a little on it each month and pay it off in full each month.
Two accounts being maintained in good order is better than one. If you have a large credit limit, ask them to lower it so you don't have so much credit available.Well life is harsh, hug me don't reject me.0 -
Leaving the card open may leave temptation in your way.
The true answer depends on how disciplined you are.
A friend of mine kept a Thomas cook card open to save the 2% on travel agent bookings, and ended up with £5000 of unmanageable debt instead of saving the £8 :eek:0
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