What do I do with my old cards?

fluffy-duck_2

I just don't know what to do with credit cards that I don't use anymore. These are cards that I have used for the 0% offers and have paid off or transfered on. Will these cards have an effect on my credit rating? Do I ring up and cancel them ro keep them so my rating looks good? They are just sitting in my drawer doing nothing.
Thanks for your help

lisyloo

Get rid of them.

They could cause problems on your credit score.
Also - they are a fraud risk.

bashful

fluffy-duck wrote: »

I just don't know what to do with credit cards that I don't use anymore. These are cards that I have used for the 0% offers and have paid off or transfered on. Will these cards have an effect on my credit rating? Do I ring up and cancel them or keep them so my rating looks good? They are just sitting in my drawer doing nothing.
Thanks for your help

I was just about to ask the same question but thought I had better trawl back through the forum first and am glad I did!

Are you absolutely sure that we should close 'em down lisyloo? Is your information about them adversely affecting our credit rating based on experience? Sorry to ask but I don't want to muck anything up

CannyJock

fluffy-duck wrote: »

I just don't know what to do with credit cards that I don't use anymore. These are cards that I have used for the 0% offers and have paid off or transfered on. Will these cards have an effect on my credit rating? Do I ring up and cancel them ro keep them so my rating looks good? They are just sitting in my drawer doing nothing.
Thanks for your help

Would you hold onto them a bit longer if they gave you a decent 0% offer again? Interested in stoozing potential?

If answers are "nope" then cancel, otherwise read this and call them: http://www.makesenseofmoney.co.uk/a_extend.html

Dan:_4

In my experience having a few 'active' credit card accounts does not effect your credit rating much, if at all.

adaze

Dan: wrote: »

In my experience having a few 'active' credit card accounts does not effect your credit rating much, if at all.

Key word being 'active', if they are dormant or you aren't really likely to use them again, check if they can give you a decent 0% offer, otherwise close them.