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Should I close credit account?

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I only have 1 credit card, only because it's 0% interest for another year.
I have no other debts and no other credit accounts whatsoever. 
I have credit rating in the 990 mark.

Today I opened a credit account with Very.co.uk as I wanted to take advantage of their 20% off offer for the first credit purchase. A credit search etc was done when opening the account of course. I was given a £5000 credit limit. 

Purchased the item using the 20% discount for using credit and now have a £499 balance on the account. 

I intend to clear the balance completely when the item arrives. 

Once clear, I do not intend to use the site again very often, if at all - and even then not on credit regardless.
Should I therefore close the credit account as soon as it's cleared? 
Or is it best to leave it open for a while??

Comments

  • If you're not going to use it again then there's little to be gained by leaving it open.  Keeping a line of credit open is only really any good for your credit history if you use it regularly and always repay in full.  Keeping it open but dormant will not improve your history (the record of your initial purchase and repayment will remain on your record for 6 years anyway).

    I have credit rating in the 990 mark.


    Odds on you'll see this drop if/when you close off the account.  But since no-one can see this meaningless score but you, it matters not one jot.

  • If you're not going to use it again then there's little to be gained by leaving it open.  Keeping a line of credit open is only really any good for your credit history if you use it regularly and always repay in full.  Keeping it open but dormant will not improve your history (the record of your initial purchase and repayment will remain on your record for 6 years anyway).

    I have credit rating in the 990 mark.


    Odds on you'll see this drop if/when you close off the account.  But since no-one can see this meaningless score but you, it matters not one jot.

    Thank you for the advice ;)
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