Old credit card

JimBlizz

Hi All,

In the next few months I will be looking to apply for a mortgage so I've decided to give me credit report the once over.

It is showing an old card that was canceled long ago as still active and "up to date" despite the fact it was canceled over a year ago.

Is it worth my time to contact Barclaycard and get it marked as "settled"?

Thanks,
Jim

Gizmo247

If you have not got too many other cards, I don't think totally unused credit could do any harm and might be of benefit. I would advise keeping it open but be prepared to provide statements for the financial review stage of the mortgage.

JimBlizz

Thanks Gizmo!

I have 3 active cards (well two, I just got rid of one but its not showing on credit reports yet).

Is there a benefit to have unused credit or should I be looking to reduce this? For example I have an approx 9k limit on one card but I am only using it to hold a 0% balance under 2k.

Thanks,
Jim