Which card to cancel if any?

Blueyoshi

I have 5 credit cards and want to cancel some of them as I think 5 is too many. Which ones should I close:

Halifax opened Jan 2016- Apr 18.9
Aqua opened JUNE 2015 but I use this frequently abroad paid off in full every time Apr is 29.9
Tsb opened in June 2016 for the cashback-Apr is 25.9
Asda opened in June 2016 for cashback the Apr is 23.9
Vanquis opened in MAY 2014 Apr 39.9.

Total available credit is £11850
£0 on all cards. Reason I ask is we want to move in 2018 and increase our mortgage to buy somewhere bigger but I'm worried that the total combined credit available will adversely affect the mortgage application which is why I'm wondering if I should close some credit card accounts down and if so which ones?

adindas

Blueyoshi wrote: »

I have 5 credit cards and want to cancel some of them as I think 5 is too many. Which ones should I close:

Halifax opened Jan 2016- Apr 18.9
Aqua opened JUNE 2015 but I use this frequently abroad paid off in full every time Apr is 29.9
Tsb opened in June 2016 for the cashback-Apr is 25.9
Asda opened in June 2016 for cashback the Apr is 23.9
Vanquis opened in MAY 2014 Apr 39.9.

Total available credit is £11850
£0 on all cards. Reason I ask is we want to move in 2018 and increase our mortgage to buy somewhere bigger but I'm worried that the total combined credit available will adversely affect the mortgage application which is why I'm wondering if I should close some credit card accounts down and if so which ones?

Very simple decision really. Close the one you do not need or you might not not in the foreseeable future. Keep in mind when you close it you might need to wait 6 month (depend on the cards) and you will start form the scratch again like anyone else. e.g credit check will take place. Only you have this info ...

bengalknights

I would close the one that has the highest interest rate tbh

planteria

Blueyoshi, as you have no balance on any of the cards i wouldn't worry about the APR.
i would select two, or maybe three, cards to retain..
but it all depends upon what you want to use them for. perhaps the TSB card or one of the others will generate cashback or points on spending?
perhaps one of the cards will offer you a balance transfer deal that you want to take - potentially accessing the 'debt' by creating a positive balance?
it might be that you want to keep just one of these but apply for a new card with terms that appeal to you to use as a spending card: generating points/cashback and also providing insurance to you.

CLAPTON

whats wrong with five
with no running balance they won't affect your mortgage application