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Credit cards the dos and don’ts

6 Posts

Have been saving hard for a mortgage deposit and have also paid off all of my previous debts in the process. I still have 5 credit cards open with a total of £26000 credit available across all of them.
I’m just wondering if I should close the accounts? Will they see my available credit as a risk that I may spend in the future. I have a fairly good credit rating so I don’t want to do anything to damage this when I’m so close to having a deposit. Thanks in advance for advice.
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If it makes you feel any better, and you don't need that much credit, it may be worth closing some of them for your peace of mind.
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i closed 3 of 5 prior to mortgage although the scores are not the be all and end all mine shot up
Once i got the keys i opened two new interest free for 18months to get some furniture
Chances are your deals have expired so no benefit them being open other than for an emergency but i doubt your going to have a 26k emergency