open cards/credit on files...do we need to 'tidy up' before we apply for a mtg?

missyp123

Hi,

We have 0 debt and are still saving towards a deposit.

We tend to use our credit cards to buy petrol/the odd grocery shop and then pay it off in full.

Currently we have a few credit cards and a catologue account between us.

My worry is the bank will reject a mtg appliaction as we have approx 18k available between us on a 40k combined income.

Do i just leave them? if i look to close some down id be inclined to close down the vanquis ones we used to build our credit scores. They have very high rates...BUT we have had these cards the longest and iv read this is a good thing for lenders to see! (maybe i could reduce the limits)?

the other cards we have only had a few months

Any help would be great ...our credit files are in great shape at the minute and i dont want to ruin our hard work!

tia

[Deleted User]

What card and limits?

missyp123

Deleted_User wrote: »

What card and limits?

hi zx81,

me..
very catologue (4 years) £4000
Vanquis (3 years) 4000
mbna (1 year) 4200
nationwide (4 months) 3000

hubby..
Capital one (2 years) £1000
Vanquis (1 year) £2000
nationwide (just opened) £5000

more than i first thought tbh.
i used both the mbna and nationwide to do balance transfers but all 100% clear now.

if we could id like to close everything but the nationwide cards and the very account.

tia

[Deleted User]

I'd drop the Very catalogue and your husband's Vanquis card. It's wise to keep at least a couple of cards each, and your limits are fairly low.

Nothing to be particularly concerned about.

missyp123

Deleted_User wrote: »

I'd drop the Very catalogue and your husband's Vanquis card. It's wise to keep at least a couple of cards each, and your limits are fairly low.

Nothing to be particularly concerned about.

ty! i appreciate your advice and ill be doing just that!
ill just use the vanquis for petrol and pay it off in full as iv been doing.