Closing Credit Cards

beans89

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Nebulous2

Sole applicant? £10k isn't going to offer much of a mortgage.

How long have the cards been open? Do they offer any other benefits, cash-back, repeat 0% offers etc?

The cards are relatively unimportant. Affordability, with childcare costs in there and a decent deposit to get better rates are much more important.

I don't believe in reducing credit limits. High limits indicate you have earned trust. I'd probably keep them all, or if you must close the lowest balance one which also has the highest rate, as long as that doesn't impact on the age of your accounts.

chattychappy

I agree.

I wouldn't close your existing accounts unless a particular mortgage provider tells you it's a particular problem for them (unlikely).

I currently have 12 cards. I have 2 with promotional balances that I'm paying down, 2 I actively use for purchases and 8 unusued. I've never had a problem getting more cards when I want them. That said, recently I've had letters from two CCs saying they will close the accounts as I'm not using them. In the past I've always asked them to keep them open. Now I won't bother. I'll let them close them as it will be fewer accounts to check each month.

beans89

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