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Closing accounts
scotty1971
Posts: 1,732 Forumite
Asked this question on another forum but got no answer,maybe the wrong one. I have recently paid off my Argos,Littlewoods and Next accounts is it best now to close these as i don't intend to use them again.Also just switched a credit card,should i close the old credit card down? Or are these best left open for credit ratings?
thanks
Scott
thanks
Scott
0
Comments
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If you don't use them, close them.
Don't get into more debt !!
Makes no difference to so called "credit ratings" !!I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0 -
Close them!!
Loan 1 £5200/£8000
Loan 2 £300/£5800
Total £5500/£138000 -
Hi Scotty1971,
If you have cleared them and are now debt free it is better to remove temptation so that no debt builds up again. I couldn't say if this would be especially helpful or a hindrance to your overall credit history because it will depend other factors in your history. This can include things such as, defaults, financial associations, being on the electoral role. etc.
Laura
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0 -
National_Debtline wrote: »Hi Scotty1971,
If you have cleared them and are now debt free it is better to remove temptation so that no debt builds up again. I couldn't say if this would be especially helpful or a hindrance to your overall credit history because it will depend other factors in your history. This can include things such as, defaults, financial associations, being on the electoral role. etc.
Laura
@natdebtline
I have just sent a letter to Littlewoods regarding PPI,should i leave this account open until it is sorted?.I have closed the rest..0 -
Sould i close the Littlewoods account or wait until the PPI is sorted out?0
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Closing the account will not impact PPI.
Go ahead and close itI’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
You don't have to be the best -
Just be better than you were yesterday.0 -
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