Keep or get rid

Jasonf1991

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

[Deleted User]

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

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

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?

[Deleted User]

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.

Jasonf1991

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

[Deleted User]

If you’re going to get carried away and run up debt then I wouldn’t be looking to get a mortgage

Nasqueron

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