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Very.co.uk terminating agreement
Arklight
Posts: 3,183 Forumite
in Credit cards
Hi
Not sure if this is the right place for this but here goes.
I have an old account with Very that I never use. Yesterday they wrote to me to say that as I never use it they are invoking a "termination clause" which will end my credit agreement with them and close my account, unless I buy something else.
I don't care about this credit agreement ending, but I am concerned that them ending the agreement rather than me would affect my credit rating in some way?
Not sure if this is the right place for this but here goes.
I have an old account with Very that I never use. Yesterday they wrote to me to say that as I never use it they are invoking a "termination clause" which will end my credit agreement with them and close my account, unless I buy something else.
I don't care about this credit agreement ending, but I am concerned that them ending the agreement rather than me would affect my credit rating in some way?
0
Comments
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No. Unless you're maxed out on all your other lines of credit, in which case it could make your debt/limits ratio look bad.0
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No, apart from the mortgage and a small ratesetter loan, I don't have any outstanding debts. I always pay everything off in full each month,0
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It will show as settled, unlikely to cause a negative effect.0
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Good for you. I think soon you'll be able to take advantage of their usual bonus for opening a new credit account.0
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If you don't use it or even plan to, I don't see the problem?!0
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