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Keep or get rid

Hi I recently took out a new credit card witch I don't need it dropped my credit score when I did this
What am I best doing for my credit score sake ?
1 keep the card and not use it
2 get rid of the card ?

Witch options best for my credit score?
Thanks in advance

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Don't worry about the score. It has less relevance than your horoscope.

    As long as you have three or four other cards that you use regularly, you could close it if you wanted to.
  • CakeCrusader
    CakeCrusader Posts: 1,118 Forumite
    If you cancel cards it reduces your available credit, so can make it look as if you're constantly close to your credit limit. It's best to use them occasionally and pay off in full, use them to buy a coffee or something.



    Your credit score is made up by the way, just ignore it. Make sure you run your credit properly (pay on time, don't go over the limits etc), it's all lenders will see. Any changes will make your fictional credit score change, they just want you to keep logging in to check it.
  • Ben8282
    Ben8282 Posts: 4,821 Forumite
    1,000 Posts Combo Breaker Newshound!
    edited 27 April 2019 at 6:19PM
    Jasonf1991 wrote: »
    Hi I recently took out a new credit card witch I don't need
    So why did you take it out?
    Jasonf1991 wrote: »
    it dropped my credit score when I did this
    So what? It sometimes does.
    Jasonf1991 wrote: »
    What am I best doing for my credit score sake ?
    1 keep the card and not use it
    2 get rid of the card ?

    Witch options best for my credit score?
    Neither.


    So why are you so obsessed with your meaningless credit score? To take out another credit card that you don't need?
  • Why did you take it if you don’t need it?

    If you close it your score will likely drop again.

    But this is all OK as the score is irrelevant when it comes to lending.
  • I was just having a play and got carried away I wanna boost my credit at the min to try and get a mortgage I recently payed off my other credit cards and gonna start making small purchases on them and pay them off for e.g. fuel each week
  • If you’re going to get carried away and run up debt then I wouldn’t be looking to get a mortgage
  • Nasqueron
    Nasqueron Posts: 9,997 Forumite
    Tenth Anniversary 1,000 Posts Photogenic Name Dropper
    Jasonf1991 wrote: »
    I was just having a play and got carried away I wanna boost my credit at the min to try and get a mortgage I recently payed off my other credit cards and gonna start making small purchases on them and pay them off for e.g. fuel each week


    Pay your card off monthly by direct debit, looks better to lenders


    If ou want to apply for a mortgage you don't want to have too much credit available as they have to consider responsible lending, having 2-3 cards with sensible limits that you pay off every month is all you need

    Sam Vimes' Boots Theory of Socioeconomic Unfairness: 

    People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.

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