closing unused credit card accounts

Aidanmc

I have an old credit card account with Ulster bank since 2003, haven't used it in a good few years now. I normally stick with 2 credit cards now, Barclaycard and Halifax Clarity as they are good for travelling.
Does closing unused credit card accounts have any negative side effects regarding credit scoring etc?

[Deleted User]

No since the score isn’t a factor used in lending.

What’s the limit and apr on the card?

Terry_Towelling

Well, aside from the fact that the numerical value of your score is largely irrelevant, you might find that a score provider will register account closure as a marketing opportunity. They might lower your score and say, 'Now look what you've done, you'd better apply for another credit product through us and we'll do our best us to restore your numbers (and possibly earn ourselves some more commission)'. That's what I'd do if I were a random number generator working on a commission basis.

Ben8282

As the account is quite old I would suggest keeping it. A total of 3 credit cards is far from excessive. I would also suggest using the card from time to time as eventually the account will probably be closed if you don't.

Aidanmc

!!! wrote: »

No since the score isn’t a factor used in lending.

What’s the limit and apr on the card?

The limit is only £1400 and i think the APR is 18.9%

Aidanmc

Ben8282 wrote: »

As the account is quite old I would suggest keeping it. A total of 3 credit cards is far from excessive. I would also suggest using the card from time to time as eventually the account will probably be closed if you don't.

The length of time i have the credit card was the main reason i was concerned about closing it. Just been looking, haven't made a transaction on it since March 2017.

eco_warrior

I really don’t see the point in having a rarely (if ever) used 3rd card.

However if anyone on here is involved in approving credit card applications I would bow to their superior knowledge.

Chrysalis

Available credit and utilised credit affect your utilisation.

So having unused cards can help you get new credit.

But having too many may hurt affordability checks, what the magic amount of cards to have is I have no idea tho, and it will vary from person to person probably as well.