Preparing my credit file - questions regarding cards etc

funkysi

Hi all,


Now this information is covered in various locations, but I am having a bit of confusion with a number of points.


My credit file is pretty good - whilst I am not debt free, I'm heading that way. I am now preparing to apply for a mortgage in between 3 and 6 months time (depending on house build completion etc).


The question I have regards old cards. Now we're told that unused credit cards should be closed down as they're a fraud risk, in addition, the high amount of available credit is also a risk....but it also shows that you've maintained your credit by proof of increased limits?


I have 3 credit cards, 1 Barclay Card Platinum, 1 Natwest Advantage Gold (with my current account) and 1 Granite card. My Granite card is all but paid off, the Natwest card is pretty low too and I am now about to start paying off the Barclay Card. I have no further debt, no store cards, no loans, no payment plans; nothing.


I want to be in the best possible position when applying for a mortgage. My question(s), do I have too many cards? Would paying them off in their entirety be beneficial as it would close down any repayment history, would having a Granite card on my file affect my creditworthiness as they're generally for people with little/no or poor credit.


Should I close this card when it's paid off? I have had it for quite a while and it shows a good level of debt management.


Part of me wants to close them all down - but I don't want that to adversely affect my credit score either.


I am sure it's more to obtain a happy medium. My thoughts are to close the Granite card down leaving Barclays and Natwest cards with low amounts on them...or is it good to have them completely empty?

[Deleted User]

Clear them, then use them regularly and pay off in full.

No one can see what brand of cards you have.

You could close one if you felt like it, but three isn't a lot unless the limits are very high.

funkysi

Deleted_User wrote: »

Clear them, then use them regularly and pay off in full.

No one can see what brand of cards you have.

You could close one if you felt like it, but three isn't a lot unless the limits are very high.

Total available is £11,300 - not sure what that equates to in the grand scheme of things. £3,500 on two of them, and £4,300 on another.