Looking for some advice

sonicetomeetyou

Hi everyone, I'm just looking for some advice.

I've read on here before that closing a credit card account does not look as good on your credit file as keeping the account and perhaps making a small purchase with the credit card each month and paying it off on time.

I've just paid off the balance of both my credit cards, and was wondering, should I keep them both active? Or would it be ok to close one and keep the other?

Any advice would be appreciated.

Anthorn

I've always kept credit and just spent a small amount every month to keep it alive because I reasoned that the open accounts look better on my credit file than do closed accounts. I'm doing that with Vanquis at the moment always clearing the small balance every month and then adding another spend.

On a credit file closed accounts are simply noted as just that and the reason for the closure and who or what closed it is not shown. Probably the one and only reason to close an account is to free up credit so you can get more credit, for example a new credit card or loan account, if it is estimated that the overall maximum credit is reached.