I've paid off my credit cards after debt- do I keep them open with the same limit?

xChloe1991

I have a 3200 and a 2100 credit card. I have been in bad shape with these and got myself into debt with 100 percent credit utilisation and some missed payments. I have recently received inheritance money so I was able to pay both off in full. My question is whether to keep credit limit the same on both cards? I will not be using them so could lower it but not sure what would be better for my credit rating. It is currently poor and I am trying to get it to at least the low end of good.

I will also have enough to use for a deposit on a mortgage once a house sale has gone through, although I'm aware it may take a couple of years before any mortgage company will be willing to lend me even if I do have a high deposit of 30K?? I no longer have any overdrafts and am a first time buyer. Thank you for any help anyone can offer me. (Score currently 683 without updating from 2100 credit card payment)

[Deleted User]

If you trust yourself not to overspend, then keep both and accept any limit increases that are offered.

Do t worry about what your score is as it doesn't matter in the slightest.  Lenders want to see how you manage your credit.

LordSomebody

OP I’m in a similar boat to you (but multiply your debt by 10!). I’ve kept the limits and use each card for fixed expenses (food, fuel, iTunes). These balances are paid off in full. Fun / luxuries come from my current account only.

D3xt3r5L4b

LordSomebody said:

OP I’m in a similar boat to you (but multiply your debt by 10!). I’ve kept the limits and use each card for fixed expenses (food, fuel, iTunes). These balances are paid off in full. Fun / luxuries come from my current account only.

Anything over £100 you should spend on the credit card though to get S.75 protection.