New 0% Balance Card & Closing Accounts

Flight32

So I finally feel as though a huge weight has been lifted off my shoulders as I was accepted for a Virgin 0% balance transfer card. My current Natwest card was charging almost 25%, so it was taking a big chunk of my repayments in interest. Now that I have my 0% card sorted, could anyone advise what I should do with my now paid off Natwest account? I'm in the process of trying to pay off all my debts and increase my credit score as I'd like to be in the position to apply for my first mortgage in the next 12-18 months. Again, I'm also in the same position with an online Paypal credit account, once this is paid off should I also leave this open before applying for a mortgage? 

Many thanks, 

Hannah

MallyGirl

It can be helpful to hold on to a card if you have had it for a few years but if it is relatively new then that won't add much. Is one Mastercard and one Visa as that might be another reason to keep 2

MEM62

Flight32 said:

I'm in the process of trying to pay off all my debts and increase my credit score as I'd like to be in the position to apply for my first mortgage in the next 12-18 months. 

Firstly, you do not have a credit score - only a credit history.  So don't waste any time trying to influence the fantasy number.  Secondly, if you are looking for a mortgage in 12 to 18 months then no doubt you have a sizeable chunk of money put away for your deposit.  It is madness to let that sit there earning you nothing while you pay interest on your debts.  Use whatever you need from your deposit money to clear your debts and the direct whatever you were paying on your debts to repay / rebuild your deposit fund.