catalogues

snookums88

Hi Everyone

I am new and looking for advice, i have the JD Williams cataloge group and have paid them off i no longer wish to use them, should i close the accounts i have been advised doing this will look bad on my credit report to leave them unused and open looks better, any help and advise will be much appreciated thank you

grumbler

Generally this depends on how many other credit accounts you have reported to CRAs.
If the number is small it is better to keep this one to fill the history.
If there are many other accounts, this one can hardly make any difference if the credit limit is not very big. If the credit limit is big then it's better to close the account.

jonesMUFCforever

By formally closing the account after it has been paid off you are reducing the risk that someone could fraudulently order goods in your name.

IMO if you don't use a catalogue - close the account - you can always open a new account if you really need one.

snookums88

Hi Guys

Thanks for your replys i'm not longer using them the apr on them is way to high, but they served their purpose at the time to get me credit worthy, i have hsbc credit card and loan also have car finance with RCI and have littlewoods catalogue, i opened the JD Williams accounts in 2009 they have been paid off since last year but as i said previously i have been told not to close them as it would be a bad move