Unused Current Accounts

J0CK

Hi,

I recently checked my credit report with Checkmyfile and found it shows two active current accounts which I haven't used nor even had access to since about 2012. One of these accounts has a £5000 overdraft limit, which I consider to be very large. This constitutes the majority of my 'available' credit - the rest being £3500 limit on two credit cards and a small overdraft on my main current account. I only ever use a few hundred pounds of credit which is cleared every month.

These old current accounts show a perfect history beginning in 2011 whereas the two other accounts I currently use have only been open for several months. I'm not sure whether I should close these old accounts because on the one hand it shows a good, long relationship with the provider, but on the other it massively increases my available credit.

If I am intending to apply for a credit card with a long 0% purchases period and want to maximise the credit limit offered, does anyone have an idea whether I should keep these accounts or close them? Would it also be wise to close the credit card accounts so that I have almost no available credit before applying? I'm not really expecting definitive answers so any thoughts will be appreciated. Thanks.

[Deleted User]

I wouldn't close anything just before an application.

chrisfreelander54

You could always cancel the overdrafts and keep the accounts open, this way it would lower the amount of available credit and at the same time as keep you clean history.