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Capital one WWYD?
its_smee
Posts: 41 Forumite
Hi so I've kind of had a mini lbm and determined to sort my credit file once and for all as much as possible, got myself in a mess 6 years ago, paid off all the debts and got a capital one to build my credit rating.
Fast forward 6 years, and I've got a car loan (the intention is to pay this off asap making overpayments) and 2 extra ccs (halifax - rate 18.9% but regularly throw in the 0% on balance transfers/cash advance offers; and Tesco - rate 14 months left at 0% on purchases) no balance on either as pay in full each month. The limits on these are £3500 and £3750, plus the orignial capital one with a limit of £2500. For the purpose of tidying credit files/ maximising available credit would you get rid of the capital one, or would it be preferable to leave it and buy the odd thing each month still and pay off in full? I'm not sure how it looks to have 3 cards with 0 on thus using a lower % of my available credit, or 2 cards with 0 on increasing the % of usage of available credit.
I'm sure this sounds much more confusing than I mean it to! I don't need the credit, but would it be more beneficial to keep it or get rid of it?
Fast forward 6 years, and I've got a car loan (the intention is to pay this off asap making overpayments) and 2 extra ccs (halifax - rate 18.9% but regularly throw in the 0% on balance transfers/cash advance offers; and Tesco - rate 14 months left at 0% on purchases) no balance on either as pay in full each month. The limits on these are £3500 and £3750, plus the orignial capital one with a limit of £2500. For the purpose of tidying credit files/ maximising available credit would you get rid of the capital one, or would it be preferable to leave it and buy the odd thing each month still and pay off in full? I'm not sure how it looks to have 3 cards with 0 on thus using a lower % of my available credit, or 2 cards with 0 on increasing the % of usage of available credit.
I'm sure this sounds much more confusing than I mean it to! I don't need the credit, but would it be more beneficial to keep it or get rid of it?
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