We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Would I be best advised to (pay off) and close my 0% student OD?
iAMaLONDONER
Posts: 1,669 Forumite
I have a Student OD for 1.5k, student CC with 1.25k limit, capital one £500 and a Luma with £750 limit. So total of 4k credit. I am stoozing around £500 on a 0% Capital 1 card till May and haven't used my Luma since November!
I've decided to stop stoozing my OD now, however should I go further and close it altogether? I know paying off my OD will reduce my credit utilisation to 12.5% from the current 50%!
I've decided to stop stoozing my OD now, however should I go further and close it altogether? I know paying off my OD will reduce my credit utilisation to 12.5% from the current 50%!
0
Comments
-
Depends on your reason for wanting to do so and your reason for wanting to reduce your credit utilisation?0
-
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.2K Work, Benefits & Business
- 603.9K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.4K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards