Help - Too many active accounts

giorgio992

Hi,

So I am in the process of paying off the following debts, wonder when I am closing them are then any i should avoid closing to keep as positive history or should I close in any particular order? I intend to clear the balance of all these and most have no missed payments or overlimits on credit file.

Aqua Card - PR 44.9% Limit 585/£1350 - Opened 01/13
Barclays - Graduate Overdraft - 0% @ £1300 - Maxed - Opened 09/13
Barclaycard - Initial - 29.9% @ 850/1000 Opened 06/13
Capital One Classic - 34.9% - 350/400 Opened 12/12
Opus Card - 1100/1500 @ 18.9% Opened 08/08
Santander 123 Card - 900/1000 @22.9% Opened 03/12
Vanquis - 0/150 @49.9% Opened 01/13

I also have the following current accounts which are open and have no adverse:

HSBC Bank - Opened 06/08
Ulster Bank - Opened 03/09 (late payment marker 11/09)
Nationwide (Main Account) - Opened 01/13
Santander Graduate Account - Opened 09/09 (OD Maxed @2000)

I am fortunate enough to be in a position now to clear all the debt but wondered, especially with the current accounts, whether there are any i should leave open as they have longer histories that my active account which is Nationwide. In the next couple of years I'm going to be looking for a mortgage and want to tidy this up as much as possible.

Thanks,

Giorgio

Thrugelmir

If the Nationwide is the active account then use this as you main account. You may consider applying to NW for a mortgage.

LplateSaver

I'd close the Vanquis and Aqua, they have the highest Apr. Close the capital one, the low limit doesnt look great, then close the barclaycard initial. I'd pay off but keep the Opus and/or Santander as the apr are relatively low and having long history of credit with opus (2008) will be a plus factor.


Of the current accounts I'd keep HSBC because of long credit history again and Nationwide. I'd transfer ulster bank one to Halifax to get £100 + £5pm and I'd transfer santinander to first direct to get another £100 and access to their 6% regular saver account to help you save for a mortgage deposit but I'm not an expert.