Do I close a Jacamo account?

TJ17

So I've got a Jacamo account that's been gradually been upgraded over a few years so it now has a £1000 limit on it.

My credit report is quite poor and I'm in the process of paying off all of my old stupidities.

The Jacamo account has nothing on it currently I paid the small balance off months ago but I'm wondering if it looks better sitting there with an unused £1000 balance or should I close the account completely?

Thanks for your advice

sourcrates

Do you use the account at all ?

If not close it.

Personally I have big feet and can't get socks to fit from anywhere else.

But that's just me.

TJ17

sourcrates wrote: »

Do you use the account at all ?

If not close it.

Personally I have big feet and can't get socks to fit from anywhere else.

But that's just me.

No I've used it once for shoes but they don't really cater for me. I'm not a 4XL or anything so I don't really have any use for it. My only theory that if I keep it open, it wont look like I'm using all of my available credit and I've got £1000 spare.

PixelPound

TJ17 wrote: »

No I've used it once for shoes but they don't really cater for me. I'm not a 4XL or anything so I don't really have any use for it. My only theory that if I keep it open, it wont look like I'm using all of my available credit and I've got £1000 spare.

Do you have other credit? You could close this, wait a month or so then apply for a credit increase on other credit that you actually use.

Whilst credit utilisation is a factor, I believe its just a small factor, so having credit available that you are never going to use is, IMO, pointless. Indeed it could be argued that it could be seen as a negative for new credit as credit availability as a portion of your annual salary.

By your mention of "not using all available credit" can I assume you have some credit where you are almost reaching the maximum? Increasing the limit on this would be far more useful than a never used card, especially as the percentage used on each credit facility is another factor that may be used in the murky world of credit scoring

TJ17

I only have a capital one credit card which is at £400, but I keep the balance on that very low and they refuse to increase it