The Best Process of Closing Credit Card Accounts - Debt from £25k to £0...

LP2021

I am in the process of clearing off credit card debt of £25k across 7 credit cards. My goal is to have all these cleared by the end of the year and be debt free.

At that point I want to close all the credit card accounts, then in early 2026 perhaps open a low credit account with Aqua or someone, just to have as an emergency backup for travel etc. But never really have credit card debt ever again.

The accounts show as "Delinquent" at the moment on ClearScore, but I am now at a point (at £15k debt, using 69% of my available limit) where some of the cards can start to be fully paid off and cleared to zero.

What is the best way to close these credit cards once they are £0 that will have minimal impact on my credit score and hopefully help rebuild my credit score back up as well?

Grumpelstiltskin

Forget your credit score, it's a made up figure only you see.


It's your credit report that matters.

MEM62

LP2021 said:

What is the best way to close these credit cards once they are £0 that will have minimal impact on my credit score and hopefully help rebuild my credit score back up as well?

You do not have a credit score so you need not worry about that.  And, if as you say, you never intent to incur credit card debt again then there is even less reason to stress over it.  Your credit standing will only be improved as you pay down your debts.