credit cards - to chop or not

leeruddecology

Hey all,

I have three credit cards and I am wondering if to cut one of them.

The cards are:

1. Natwest Mastercard (purchase deal ended now) - £6k limit - 0£ balance - 2 years
2. Natwest Visa - 750£ - 0£ balance - 10 years +
3. Halifax - 14 months left on 0% purchase deal - 5k limit (using 1k at present) - 3 months

I am wondering if I should combine the credit limit of the Natwest cards and cut one. Perhaps get rid of the newer card (Mastercard) so that my average age of account is older?

I have been informed Natwest will not be offering 0% deal cards any more :-( hence jumping to Halifax. P.s I paid of the balance on my Natwest rather than transferring balance etc.

So the question is should I close one of my Natwest cards? I want to try and do what is best for my credit score.

[Deleted User]

3 cards isn't a lot, but you need to look at it in relation to your income.

If you were to lose one, then NatWest would be the obvious one.

leeruddecology

Deleted_User wrote: »

3 cards isn't a lot, but you need to look at it in relation to your income.

If you were to lose one, then NatWest would be the obvious one.

I am not concerned about the number and would like to build as big a credit limit as possible. Although, in reality I want a high limit on a "deal account" so if I were to get a big £ item I could take advantage of a 0% deal.

enthusiasticsaver

I would only hold 2. I don't think it would make a great deal of difference to your credit score though whether you hold 2 or 3. The bigger issue is the balance on them and what that is in relation to your income. If you have high balances on them (whether at 0% or not) this will affect your ability to borrow if it is a high percentage of your income. Why would you need a 12k limit on credit cards?