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If I pay off my credit cards should I keep them?

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Just looking for some advice. I have four credit cards and one store card/account. This year I may finally be in the position to pay them all off. I've continually owed a balance on all of them since around 2004. In total I've made around 600 monthly payments across the five and out of those 600 only around 4 or 5 have been late. I've never checked my credit score but I am guessing it is ok.

My question is this - when I've paid them all off I want to close all but one of them. I do not want the temptation of having easy credit anymore. If I do this though will it damage my credit score? Or would it look better to have long standing accounts with a good track record which are all nicely paid off?

Thanks
April 2014: First ever win - two night break for 2 to Cornwall inc 1st class return rail travel :j

Comments

  • themull1
    themull1 Posts: 4,299 Forumite
    Close them, if you need another card in the future, you can take advantage of a 0% offer. Ive done this, and never had problems with credit.
  • Tixy
    Tixy Posts: 31,455 Forumite
    It is definitely a good idea to keep at least one account open to maintain an ongoing credit history.
    Providing you don't then regularly max out that remaining account then closing down the unused accounts shouldn't generally have a negative impact on your ability to get credit.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • The_Boss
    The_Boss Posts: 5,858 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    I'd keep two personally. Knowing your salary, credit limits and details of any other credit agreements/mobile phone contracts would help.
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