Closing Oldest Standing Credit Card

TheGenerus1

I have the following credit card and mail order accounts which I've had for the corresponding amount of years:-

1. Creation Card = 1 year
2. Flybe Card = 1 year
3. Capital One = 3.5 years
4. Very Catalog = 2.5 years
5. Natwest current account = 10 years

I want to close the Capital One account but as it is my oldest standing active account, I am a little bit hesitant to do so.

I have numerous closed credit card accounts which were all closed in the last year:-

1. Aqua = 3.5 years
2. Vanquis = 3.5 years
3. Monument = 10 years
4. Littlewoods = 2 years

My question is, do closed accounts act towards the number of years I have handled credit accounts? (as they will be showing on file for the next 6 years) or does only my active accounts matter in that respect?

If the latter is correct then by closing the Cap One account, my average number of years of handling credit will on average be low (Unless my Natwest current account is taken into the equation).

I was hoping that my closed accounts especially my Monument credit card account for which I've managed for 10 years would factor into the amount of time I have handled credit.

Please could someone shed some light on my query as I'm not sure if closing it would be a mistake. I am also aware of the implications that closing it will effect overall credit utilization.

Many thanks in advance.

[Deleted User]

First question, do you have negative balances on any of them?

What is your aim, ie are you looking to get a better credit card or are you just looking into having a clear out of accounts?

TheGenerus1

My aim is to apply for a card with a 0% balance transfer offer in the next 2-3 months.

The Creation and the Flybe cards have just finished their 0% period and I'm looking to transfer to another 0% offer card.

the balances are:-

1. Creation = £800, limit £1960
2. Flybe = £800, limit £2300
3. Capital One = £0, limit £1800
4. Very = £200, limit £4500

Was looking to close the Cap One and balance transfer the first two with a view on closing the Flybe once transferred (if successful) to the new 0% card.

I want to close the Cap One as it has a subprime rate and I thought that just being left with 2 cards instead of 3 would increase my chances of obtaining the new card. I hoped also that the limit on the new card may be higher due to the lower overall available credit.

I have done the Barclaycard Pre checker and it said that I have a very good chance of getting their 27 & 28 month 0% card so I might go with them.

I have all green ticks on all credit files going back 10 years and thought that jettisoning and extra card may further increase any chance of a successful application.

It is only the fact that I hear a lot about people saying that you should never close your longest standing card that I am hesitant to not close it.

If the closed accounts or current account helps with this longevity then I could close down the Cap One no problem.

TheGenerus1

Anybody know if closed accounts still count towards your average years of handling credit???