To close credit card accounts ?

andju6290

I now have 4 credit cards. 3 from previous 0 % cards. All are sitting dormant now and I want to close them. How best to do this without affecting my credit score. ? Or will it impact on it ? 

[Deleted User]

Firstly, ignore your mythical score, no lender ever sees it, it's purely a novelty
Secondly, keeping cards open shows stability which lenders like - spend a few pounds on each every month and pay off in full and it will improve your credit worthiness (how a lender assesses you, not the joke score)

mountaindreams

I have also gained a number of credit cards due to getting 0% spending cards. I recently closed the Jaja (started out as AA) one as it was such a PITA to do anything with (and had 0 balance). 

One reason I am thinking of closing another one or 2 is so that I can take advantage of future 0% spending offers from the same providers. Certainly one of my current cards is one that I previously closed then a few years later applied for another 0% card. I am not sure how long you have to leave between closing and getting a new deal but I think it may be 2 years.

[Deleted User]

mountaindreams said:

 I am not sure how long you have to leave between closing and getting a new deal but I think it may be 2 years.

Generally 6 months, although things change all the time.