best cards to cancel

femalemonarchfemalecanine

I suppose my real question is, is c35% usage to credit ratio likely to be viewed a lot worse than c25% and is it likely to have a more detrimental effect on getting another BT in the future than the available credit in relation to my salary, given that I clearly have never used anywhere close to the amount of credit that I have available?

adindas

femalemonarchfemalecanine wrote: »

I suppose my real question is, is c35% usage to credit ratio likely to be viewed a lot worse than c25% and is it likely to have a more detrimental effect on getting another BT in the future than the available credit in relation to my salary, given that I clearly have never used anywhere close to the amount of credit that I have available?

With the absent of other information, of course everyone could see that 35% usage is worse than 25% usage but it will not be "a lot worse (as you said)" as you will now have few "Settled account showing on your credit file" when you cancel your crefitcard. Also on the other hand you will now have more room on your credit limit that you could take advantage of when there is a new promotinal deal that suit you come to the market.

If you read this forum regularly you will notice there are some people acknoledge of having limit 2- 3x of their salary.

But if the limit become your concern you could minimise it by shaffling your credit limit. If you have "two creditcards from the same creditcard company", move most of the limit from the card you want to cancel to the one you want to keep before you cancel the one you want to cancel.

I prefer to take advantange of 0% on BT in specific cycle/order e.g I will try to finish all of them before starting a new cycle. When the cycle is completed (all of them are paid and caceled) I will try to start a new cycle by appying several crditcard simultaneously at the same time (e.g within few days window). IMO by doing this there is a good chance the total credit limit of your new credit cards has not been shown on your credit file when you apply your next creditcards. Of course there is advantage and disadvantage of doing this but that is subject to another discussion.

femalemonarchfemalecanine

I do read these forums and have done for many with various usernames, which is why I know there are no cut and dried answers to my question, I just thought there might be opinions born of experience as to what percentages and ratios might be seen as acceptable or not.

still, the only time I ever had trouble getting a card was just after I moved house, and as I've no plans to do that again I'll cancel the unused ones and hope I continue to be accepted.

thanks

DiggerUK

If you regard yourself as sensible with your borrowings then hang on to them all.
Having 'lines of credit' such as this should not be given up. With new rules you wouldn't get them back if you gave them up..._