Credit Cards Paid Off - Keep them or close accounts?

jason2_uk

Hi Everyone,

I have 4 cards at the minute, and have managed to clear all of them after finally deciding to get it done 12 months ago.(Been in constant CC debt for past 7/8 years!)

Basically what I'm wondering, is there any advantage to my credit rating having these accounts left open, if im not using them, or should I close all but 1, for emergency use?

Am going to looking at getting a mortgage within the year, so I'm interested to know the positive/negative effects these cards could have.

Thanks

HappyMJ

You should continue to use them and pay them off in full each month. Then it will look better on your credit report looking as if you can manage your debts well.

Gordon_Hose

If it was me I'd close 3 and use one, paying it off in full each month.