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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%!
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Comments
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Depends on your reason for wanting to do so and your reason for wanting to reduce your credit utilisation?0
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