advice on credit

evouguelad

i have been looking on line concerning information on credit cards and mail order companies. i have couple of credit cards which i need advice on as I'm paying them off would it be better for me to close these or keep them open? as i don't want to much credit. and also i want to improve my credit score. also i have little woods account which does have high credit balance which I'm not even near the this do i reduce the credit or is it best to close the account if i don't use it as i get conflicting evedence online saying best to reduce and some say drop the balance all I'm interested is to have an excellent credit score i don't have any defaults all my payments are unto date which i do pay over the min payment on everything each month. so i would be great full if someone can shed light on this for me

Car1980

Credit scores are meaningless. But if you go on Clearscore you get a handy illustration of how much of your total credit you are utilising. You want credit available, should you need it, but you don't want to have loads of unused credit either (or be near the max).

Geoff1963

When I was getting a loan, my bank helpfully pointed out the aspects of my finances that bothered them. One was a competitor's credit card, with a small balance, which I then closed.