Which credit card should I cancel?

leanne12345

Hi,
We are looking at applying for a mortgage later this year and I have 2 credit cards that I will clear before then. I am under the impression that it will be better for my credit rating if I cancel one of these when it's clear but which one- I have had them both for the same amount of time, one has a credit limit of £200 with a lower interest rate, the other has a limit of £1200 but the interest rate is quite a bit higher. Would it look better to have more credit available to me but with the higher interest rate or the other way around?
I hope that makes sense!
Thanks

bsms1147

I would keep them both open, shouldn't affect the application since they're small limits. Closing could be viewed as either a positive or negative factor.