Credit Cards and Mortgages advice Please

butlte75

Please can you help me.
I'm trying to get myself in the position to borrow for a mortgage and i have a question.

I'm paying off my credit cards. But for looking good to lenders, what's better....
having 5 credit cards all with £0 money on them because I've paid them off.
or 0 credit cards at all.? (as i cancel the 5 credit cards) ...which is better??

thanks

Ergates

Having some (1 or more) credit cards with 0 balance, and you use regularly (e.g. for grocery shopping) and then clear each month looks good in your credit history.

jonesMUFCforever

Defo have one or two but pay them off every month.

Terry_Towelling

Aside from not having any skeletons in your 'financial closet', surely, the best thing to show any potential lender is that you have enough for a deposit and can actually afford the repayments for your requested borrowing in a sustained way. Can you do this?

If it were advisable to have no credit cards, then hardly anyone in the land would qualify for a mortgage.