paid off and closed 4/5 of my credit cards

londonTiger

I think I had a total of £20K credit allowance on all my credit cards put together.

I have recently decided to cut down my exposure to credit. Recently set up a company and I'm being credit checked personally because the company has just 3 months trading and no filed accounts to date.

In order to help secure business loans and business credit cards it would be helpful to be less geared personally.

I'd like to know is it wise to agrresively cut my personal debt? Or should I make the minimum payments on my 0% credit card (12 months left) and keep the credit file open and current?

I've heard of numerous cases where people whove never had any credit cards or loans with more cash than anyone in the bank struggle to get loans and mortgages because they have poor credit activity on their records.

Thanks.