Closing credit card before completion

dgtazzman

I just wanted to check if this would have ane consequences. We have a mortgage offer from Nationwide, completion in March.

I have 3 mastercards, all declared in the process. 1 has no balance, 1 I just used to buy some furniture on, but the full balance is paid monthly and it will have no outstanding balance once the payment for the furniture goes off, the last one has around 2300 pounds outstanding on a 5000 pound limit on 0% and we have declared it not our intention to repay that before completion, which was fine. The total limit for the 2 other cards is also 5000 pounds.

Would it hurt to close one of them at this point? I have no need for it and I would actually prefer to have if marked as settled in order to apply for a visa or amex card once we have completed (I travel a lot and would feel safer carrying 2 different CC brands, rather than all mastercard). Wouldn't want it having consequences for our mortgage though, so I would keep everytging as it is if needed.

Thrugelmir

Closing an unrequired credit card now would probably help with obtaining a new card in the future. More than impacting the mortgage application.

dgtazzman

Just a bit worried the change in used credit/available credit might be frowned upon, though with card closure I would still onlh be using around 31 percent of available credit.