Balance Transfer Cards - repay and close or keep cards open for best credit rating?

Jaith

Looking to get my credit in the best position for when I remortgage in around 6 months time, and I'm not sure whether it's best to minimise my available credit, or my credit utilisation.

I bought a car last year partially on debt which I spread across several interest free money transfer / balance transfer cards, effectively as a cheap loan. I have the option to pay quite a lot of the balance back now (I currently have a repayment fund as a savings account earning interest). I am wondering if it would be best to either:

- Pay off what I can then close all but one of the cards entirely, which would leave me with a smallish debt but high utilitisation of my available credit, as I would be left with only one card and using most of its available credit.

OR

- Pay off what I can but keep all cards open with limit unaltered. This would leave me with a smallish debt and low credit utilitsation percentage but a fairly large available credit pot of around 1/3 of my annual income.

[Deleted User]

Pay off what you can do the cards.

Keep them open - don’t close them.

JayMawds82

If you shop on Amazon. You can put £1 per month minimum into a gift card/pre-paid amount thingy. When you buy something on Amazon, you can apply any balance you have to the purchase.

That's what I do to show usage every month so it won't be closed down.