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Credit file rating
TeddyG
Posts: 11 Forumite
I have 2 credit cards, both NIL balances, which have served their purpose and which I don't intend to use again. Would it improve my Credit File Rating if I closed these accounts?
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Comments
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I have 2 credit cards, both NIL balances, which have served their purpose and which I don't intend to use again. Would it improve my Credit File Rating if I closed these accounts?
Its not your rating but your credit history that lenders see.
You can close both accounts, might look better from a lenders POV.0 -
Have a look at Martin's factsheet about credit files on this site (can't link as I am new). In it, he explains that not all lenders are looking for the same thing.
Points you might want to consider are that long-standing, open accounts can look good on your file. And also that not having any credit arrangements or available credit can have a detrimental affect.0
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