Closing accounts, removing overdrafts?

pmatt_2

My credit rating seems to have taken a bit of hit recently. I have around £12,000 in credit card debt, all of which is 0% interest, and all of which is being paid off so that it's cleared by the time the 0% rate ends.

I've applied for a few bank accounts in order to get switching incentives. This has gone pretty well.

But I've just been turned down for both First Direct and Halifax, so I think my credit rating needs some repair.

I currently have a NatWest bank account with a balance of £0.05 and an overdraft availability of £2 250. I don't use this account

And I have a Virgin credit card with a balance of £0 and a limit of £3,400. I'm not using this account, either.

Should I close either or both of these accounts?

YorkshireBoy

Both...unless you've an income, and credit history, to support a large debt and available credit on top.

Ben8282

It could just be that First Direct and Halifax have asked themselves the question 'Why does this person keep opening current accounts?', have realised that the likelihood of their accounts actually being intended as your main current account is very low or otherwise find you unattractive as a customer.
It is probably not connected to the 0% credit card debt.
Don't close the virgin credit card account. use it for the occasional purchase just to keep it ticking over but don't close because if you close it your available credit utilisation % will increase, making your debt levels look worse than they are.
Close the Natwest current account.