Credit cards and Connections

ADChick

Hi all,

Just a couple of quick queries really. Me and the Mrs are potentially looking at a larger mortgage in the future. We both have Noddle and both have pretty good credit files, no issues on them at all, but there's always room to improve!

Is it worth closing credit cards or should you keep them open even with no balance? I've heard differing opinions on whether they are worth keeping open? I have one that's been clear for ages, which we use for holidays as it has no fees to use abroad. I also have one with about £500 on that I'm bringing down as it was used for booking a holiday. The total limit combined is around 6k. Is it worth closing them, or even lowering the limit, or will it have no effect?

Also I have my mum down as a financial connection. Back in the day, I couldn't get a debit card on my own as I'd had no credit at all before. She opened a joint one with me to help out. Is it worth logging a request to have it removed on there? I'm confident she has no issues at all, but I don't have any financial links with her any more. I don't want to request to remove if it can have any negative effects!

[Deleted User]

The impact of available credit is influenced by your income. 6k is not a high total limit, unless your income is very low.

It's advisable to remove any non essential financial associates.

Malmo

You'll need to raise notices of disassociation with each credit reference agency where you are linked, not just Callcredit/Noddle, as there are 3 databases where financial associations may be recorded.

See links for HOW TO disassociate for each agency below:

Experian disassociation

Equifax disassociation

Callcredit disassociation