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Credit Card to Keep or Not to Keep
Pumpkin2015
Posts: 1 Newbie
in Credit cards
Hi all - was hoping you could help me.
I am due to apply for a mortgage, and I have 2 credit cards and an overdraft facility.
One of the credit cards is an Amex, which does not have an interest because it needs to be paid in full each month. Also, it does not seem to have a credit limit - Amex has mentioned that it is a charge card without a limit and that it depends on all underlying issues. When pressed, they told me it's GBP5000. The Amex does not show on my Experian credit report - and they don't seem to find it to link it to it. When i applied for it, it left a print on my Experian report.
The question is: Should cancel the Amex so as not to need to explain to the mortgage lender why i have 2 credit cards and an overdraft? I suspect that unless I provide Experian the account number of the Amex, they won't be adding it onto the file and therefore, it won't show.
I don't hold any balance on the second credit card. I am often on overdraft though a few hundred a month but that gets also paid each month. Otherwise I have a Good score on Experian.
Thanks for all your help in advance!
I am due to apply for a mortgage, and I have 2 credit cards and an overdraft facility.
One of the credit cards is an Amex, which does not have an interest because it needs to be paid in full each month. Also, it does not seem to have a credit limit - Amex has mentioned that it is a charge card without a limit and that it depends on all underlying issues. When pressed, they told me it's GBP5000. The Amex does not show on my Experian credit report - and they don't seem to find it to link it to it. When i applied for it, it left a print on my Experian report.
The question is: Should cancel the Amex so as not to need to explain to the mortgage lender why i have 2 credit cards and an overdraft? I suspect that unless I provide Experian the account number of the Amex, they won't be adding it onto the file and therefore, it won't show.
I don't hold any balance on the second credit card. I am often on overdraft though a few hundred a month but that gets also paid each month. Otherwise I have a Good score on Experian.
Thanks for all your help in advance!
0
Comments
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Two cards is not a lot. If they give you benefits, then keep them.
But I would stay out of your overdraft if possible, as it implies you don't have enough money to last the month.0
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