credit debit cards and the credit report

londonbloke_2

Hi, I have 5 current accounts with 4 banks and 4 credit cards from those banks including Vancuis credit card.
I wonder if any of these damage my credit history as i heard having many accounts might be viwed as "bad".
I am not in debt and paying off every months, though cannot get a phone contract.

Should I close any of my current accounts or credit cards. just shed a bit of a light please?

also, if i get an experian 30 day trial credit report, will i be able to cancel it within the trial period?
thanks very much

YorkshireBoy

Bank accounts, on their own, don't damage credit files. Any associated overdraft facility, however, could...whether used or not.

Credit card accounts are a little bit different. Generally, I think most people would have larger credit limits on their cards than they have on any overdraft facility with the same provider.

Who knows what credit providers look for when searching your file. Maybe they look at the number of active accounts, as well as the total available credit and anything 'in use'.

If you're not in debt, I'd close two of the cards down and keep two running to establish/maintain a credit history.

Consider also reducing any overdraft facilities you don't use.

Refusal for a mobile phone contract would, I think, point to an ID/address issue such as Electoral Roll discrepancies/omissions?...unless of course you have a history of defaults/CCJ's?

You can cancel the 30-day Experian trial quite easily. The T&C's detail how it should be done. Be sure to read them thoroughly before committing to the contract.

londonbloke_2

thanks YorkshireBoy, was a good reply

clio

If carling did replys it would be exactly like Y/B's lol..

londonbloke_2

I have the following

LloydsTSB Classic Credit Card
LloydsTSB Airmiles Duo
HSBC Credit Card
Vanquis

which would you recommend to close. I am not in debt with any of those. I am sure each one equally affect my credit file to build a credit history, so which ones would you recommend to close.
Thanks

CLAPTON

if you have been turned down for a contract phone, as well as ensuring you are on the electoral roll, I would suggest you get copies of all three of your credit reports... the statutory paper copy only costs £2 each

londonbloke_2

unfortunately I am not in Electoral roll.

clio

LondonBloke
Did'nt you find it difficuly to get Credit Cards when not being on the Electoral Roll,
i allways thought it was harder to get credit if you were not on it?
I would close down the highest apr card if you don;t pay it off in full every month.

londonbloke_2

clio,
my first credit card is from Lloyds where i had my paying account. i think although i am not in e roll they assessed my circumstances and gave me the credit card.
in fact they gave me two different cards later
i think hsbc did the same,
as to Vanquis, you know they give you as it is designed for people like me i guess

I applied for GE cap card as well but declined after referral
but i find it hard to get a phone contract

do all the credit cards affect your credit file in the same way? or depending on the type and the limits they vary in influence?
thanks

clio wrote: »

LondonBloke
Did'nt you find it difficuly to get Credit Cards when not being on the Electoral Roll,
i allways thought it was harder to get credit if you were not on it?
I would close down the highest apr card if you don;t pay it off in full every month.