Better for credit report to cancel unused cards?

keeno

Hi all

Ive just got a new credit card and transfered the balance of my 2 old cards to that. Im looking to improve my credit rating and was wondering if it better to cancel these 2 cards or to keep them and have the 0 balance on my credit report.

Im due to remortgage in July and im looking to get my credit report as clean as possible.

Thanks in advance.
Keeno

doodledo_2

I know they look to see how much credit you have available to you so even if it is at £0 they will take into consideration the limits if this makes sense.

Hopefully someone with a but more knowledge will be along soon.

CLAPTON

Its unlikely to make any difference to a mortgage application either way.
They are mainly interested in whether you have any bad infor (i.e. defaults /CCJs) on your history, how much equity, how much debt, your salary and whether you have always paid your existing mortgage payments.

keeno

Thanks for the replies.

I'll just cancel the cards then, no benefit to keeping them and too much damn temptation.

Cheers