Credit agreements - active v settled

nicedream_2

Hello

I have recently had a Equifax credit report and would really appreciate some advice

I have been scored 'good on credit agreements' and it states 'You have 6 active accounts and 1 settled accounts on file at your address. Credit grantors prefer that you have at least one or two accounts as part of your credit profile. Active accounts are preferred to settled accounts.'

Now the six are 2 Santander current accounts (1 joint), 1 Halifax current account, 1 First Direct current account, 1 Barclaycard and 1 mobile phone bill.

I opened up the Halifax and First Direct at the start of the year to close down the Santander because I didn't like their customer service. However I now realise that it's best to keep my Santander for the time being as I have a longer history with them.

My thought was to close the Halifax account down instead but I'm confused by the 'active accounts are preferred to settled accounts' bit. Do you think it's better to settle an account to reduce the '6 active accounts' or should I keep them all open?

I realise there might not be a clear answer to this but any advice would be :beer:
I plan to reduce my overdraft limits on all accounts.

Thanks!

tinkerbell28

Rubbish. Creditors like to see successfully settled accounts. It shows you have kept and maintained and successfully settled an account.

nicedream_2

Thanks! So is it (generally) an okay thing to have six active accounts or should I look at closing one down?