can you point me in the right direction please

Ches

I am debt free but over many years I have had many store/credit cards that have been paid in full and luckily without any defaults. Unfortuneately however until I found this site I never officially cancelled any of them after they were paid up. I just stopped using them and eventually the statements showing nil balance dried up. Should I worry about this or should I check my credit file to make sure these obsolete cards are no longer showing on my credit record. If you good peeps think I should make a check, can you please point me in the right direction to do this. Thanks.

Bagpuss741

The two credit reference agencies I know of are:
http://www.experian.co.uk/
http://www.equifax.co.uk/

If you have no intention of using the credit/store cards you have paid off there is no harm in writing to the companies and cancelling the accounts.

Bagpuss741

Also just remembered I've used these guys in the past.

http://www.annualcreditreport.co.uk/

MrsTinks

Yes you should cancel the accounts. Make sure you do so in writing by recorded mail and check your credit files to make sure they have been removed. If you have lots of available credit you will be a less attractive customer as you could get into debt very quickly although they are showing nil now. If things went wrong for example you could max all your accounts as well as new credit and that would leave the lender worrying because no checks would be needed for you to utilise that available credit.

I'd definitely close them

brightonman123

? why would a nil balance 'live' account be bad? i woukd see it as credit granted but not used, so a good risk for any new loan?

MrsTinks

No any nil balance but live account is easily available credit - I guess the easy way of seeing it is from the lenders perspective as "Mr X has £30,000 available credit and now he wants mroe from us too? Why? What could he need more credit for when he already has £30,000 worth avilable to him?"

Just an example

Ches

I see your point thanks. I can't simply write to them individually as I can't remember now who they all were. Since being on this site I have cancelled all the later ones. I think the ones I haven't cancelled officially are those store cards where you get 10% off on the day you sign up and cc that were a good 'deal' at the time. I then paid in full, cut up the card but didn't cancel. I think I will have to see if any are still 'live' on my credit file that I can cancel as I only need the one cc for emergencies and on line shopping. Thanks for your help.

Ches

Bagpuss741 wrote: »

Also just remembered I've used these guys in the past.

http://www.annualcreditreport.co.uk/

Thanks Bagpuss I have ordered my report. Will be interesting.