Vanquis Credit Card

Jamesdf5 · 8 August 2019 at 3:27PM

Hi all,

I took out a Vanquis Credit Card 5 years ago to repair my credit. I no longer use it but it's my oldest credit account.

In terms of my credit file will having a Vanquis account affect my credit rating in a negative way or will keeping the 5 year old account open be more beneficial?

Regards

James

[Deleted User] · 8 August 2019 at 3:31PM

You don’t have a credit rating to be affected.

But it will make your account stability look better to future prospective lenders if you keep it open.

Jamesdf5 · 8 August 2019 at 3:56PM

!!! wrote: »

You don’t have a credit rating to be affected.

But it will make your account stability look better to future prospective lenders if you keep it open.

I don't? :eek:

Willing2Learn · 8 August 2019 at 4:01PM

Jamesdf5 wrote: »

I don't? :eek:

It is true that you neither have a CRA credit rating or score that is seen or used by lenders, as they have their own independent criteria and policies to score you against. They do this using the data held in your credit file, added to the data you submit in a credit application, added to any data they already hold on you as an existing or returning customer.