Question about cancelling cards and forgotten cards

dag_2

Hello everyone.

I'm debt-free! Hooray! Mind you, I still live in a rented accommodation, and I wouldn't mind buying my own place some day, and getting a mortgage for it, preferably a competitive one.

So I thought I'd improve my credit status, and cancel all the credit cards I don't need. So far, I've cancelled two of them. On one of those closures, I needed to provide the card expiry date and 3-digit security code.

But there was one account which is showing up as a direct debit on my bank account, but which I haven't used for several years. I thought I might need the card expiry date and security to be able to pass the checks necessary to close the account down. But I couldn't find the card. So I assumed that the card had been eaten by my flat's clutter monster.

But I figured that you can't be expected to give the exipry date and security code on a card you don't actually have. So I phoned up and reported it lost, with the intention of using the details of the replacement card to close the account down permanently. I passed all the necessary security checks, only to be told that the account for the card I had just reported lost has already been closed! Which might explain why I couldn't find the card!

So I'm not sure what cards I do and don't have any more. I suspect I may have applied for two or three credit cards at the same time, and been accepted for all of them, but only used the best one, and then put the others away and forgotten about them.

I also suspect that I once had a GUS catalog shopping account at a previous address which I stopped using, and I didn't tell them when I moved. But I haven't kept any paperwork, and I've completely forgotten what the account number might have been. It's possible that I may have left forgotten credit cards accounts behind at previous addresses too.

So I have two questions. One: if you don't use a credit card or catalog shopping account for a certain amount of time, then is it safe to assume the lender will close it down themselves?

And two: is it possible to find out from your credit record who you do have credit accounts with?

Thanks.

GunJack

one - not safe to assume.

two - yes. get reports from at least experian and equifax to check and cross-refer. Then, happy account closing

dag_2

Thanks for that. Two other related questions: Three, if you've only just closed an account, then how long will it take before it shows as a closed account on your Experian or Equifax report?

You see, there have been lenders with which I've had two accounts simultaneously. In particular, there was one lender which provided an introductory offer for new customers, but who I already had a card with. I didn't let this detail get in the way, I just applied anyway, and they accepted. Since then, it's always been a struggle to tell the two cards apart, because they haven't always had the same interest rates, despite looking exactly the same. Hopefully I'll be able to tell them apart on the credit reference agency reports, though.

And fourth: is it safe to assume that an account which doesn't show on my Experian or Equifax report simply doesn't exist?

You see, I don't want to make any assumptions about my ablity to track what cards I do or don't have. The recent Goldfish ads in the free London commuter papers have made me remember that I once wanted to apply for a Goldfish card in the past. But I don't honestly remember whether the application was accepted or rejected, or even if I completed the application form. I don't appear to have a Goldfish card right now, though.

Oh and the fifth thing: what about suspected forgotten accounts that I've left behind at previous addresses? Should I be checking not just my current address but all my previous addresses with Experian and Equifax?

Thanks again.

GunJack

okay......

three - pass, but some of our better-informed colleagues about the board will know.

four - not safe to assume, but a pretty good bet. If this is the case, the last step would be to check with the third credit reference agency, callcredit I think, and if not there either I would think it would be okay to not worry about any other accounts.

five - the CRAs check you as a person, and so should list all outstanding accounts wherever you were living when you took them out.

Remember, if you closed accounts that were serviced properly over 6 years ago, they'd drop off your credit files anyway.

YorkshireBoy

dag wrote: »

Three, if you've only just closed an account, then how long will it take before it shows as a closed account on your Experian or Equifax report?

Anything up to 2 months in my experience, depending on when (in the month) you close the account.

dag_2

Brilliant! Thanks ever so much for the helpful replies.