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Closing old credit card accounts?
rach83
Posts: 300 Forumite
in Credit cards
Sorry if this has been asked before but after doing a bit of credit card tarting for the last couple of years. I have 4 credit cards. 1 with a balance and 3 without. In credit cards I have credit currently available to me of £18,000 should I close a couple of the accounts or keep them open?
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Comments
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Write to the card companies & close the account, this allows you to re-apply in the future for 0% offers but also it will have a good effect on credit scoring (the more credit available to you £18000 the harder it becomes to tart more cards.).Every day above ground is a good day.0
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Call them up and cancel over the phone.. they 'may' make you an offer you can't refuse...
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As an alternative to cancelling accounts you can also ask for individual credit limits to be reduced at any time. This may be less effective however - eg it won't allow you to become a 'new' customer as stated above.....under construction.... COVID is a [discontinued] scam0
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