Credit

Monica18

Hi there
Currenly I have just cleared my next account and cancelled credit cards that had zero balances. I have one card which has just Over £2000 on which I we can afford however I’ve attempted to get a zero balance transfer recently and not accepted? Would the cancelling of cards /zero balance on next account have an effect on this? I work full time and mortgage free so a tad puzzled 🤨. 

Also credit file says Fair? Which I find odd when all payments upto date?

Thank you 😊

[Deleted User]

Having accounts closed can look as if lenders no longer trust you, but what's done is done.

If doesn't matter whether your credit file says Fair, Mild or Scattered Showers.  Lenders will be looking at the data on each of your files, so check all three to see what appears.

In the meantime, clear the £2k debt if you really can afford to. Revolving such a low balance with interest tells lenders you have little disposable income.

finalfantasist

Depends on what you mean by "just."  Lenders aren't particularly quick to report account updates right now so a closed account could take a couple of months to be reported.  If you closed them in the past few weeks then it's unlikely to be that that's causing you problems.

Monica18

Hi thank you for responses - I checked my credit card statement for December and noticed late payment charge - was in hospital at time - contacted them and cancelled late payment charge as always on time with payment. Other cards I had take. One out early December planned to use as 0% though we decided against ... can’t see anything on my Experian file ... suppose I’ll have to wait a few weeks for it to be updated as only debt we have is £2000 as cleared next before Christmas. Odd I feel 

ceremony

Lenders are clamping down massively on who they give credit to because of the pandemic so it's harder to get 0% deals than it used to be.
You should be able to get something though if you're generally up to date with payments and don't have any adverse markers. Don't apply to lots of different companies because each one will put a hard search on your file and that makes you look desperate for credit. Use the eligibility checkers on here and on popular price comparison sites first. 
I have terrible credit and still managed to get a short 0% deal from one of the sub-prime companies. It was a low limit/introductory offer but if you can move any of your balance to 0% it would reduce the interest you pay and make it easier to clear the bit you are paying interest on.