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  • FIRST POST
    • 2scompany3sfamily
    • By 2scompany3sfamily 8th Aug 18, 6:56 PM
    • 5Posts
    • 0Thanks
    2scompany3sfamily
    Should I close a 0 online store account?
    • #1
    • 8th Aug 18, 6:56 PM
    Should I close a 0 online store account? 8th Aug 18 at 6:56 PM
    Hi everyone,

    It's in the title really. I have an online account with Next. My credit limit is 5,000.

    I usually buy things in bulk seasonally, then pay off monthly. I have never been late etc etc and paid over the minimum.

    The current balance is 0.00.

    We are looking to apply for a mortgage . soon (within 6months?) - am I best to close this account (as per Experian's advice) or leave it open as a sign of my "extensive" access to credit.

    Sorry if this is a dumb question... Thanks in advance you lot
Page 1
    • Willing2Learn
    • By Willing2Learn 8th Aug 18, 7:00 PM
    • 1,617 Posts
    • 1,226 Thanks
    Willing2Learn
    • #2
    • 8th Aug 18, 7:00 PM
    • #2
    • 8th Aug 18, 7:00 PM
    Hi 2scompany3sfamily and welcome to the forum

    If it were me, I would keep the account open. In my eyes, it demonstrates long-term stability and successful credit account management. These are both things that a potential lender wants to see.

    Edit: Just noticed that although this is your first post, you've been a member for over five years lol. Where have you been lurking all this time?...
    Last edited by Willing2Learn; 08-08-2018 at 7:08 PM.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • 2scompany3sfamily
    • By 2scompany3sfamily 8th Aug 18, 7:18 PM
    • 5 Posts
    • 0 Thanks
    2scompany3sfamily
    • #3
    • 8th Aug 18, 7:18 PM
    • #3
    • 8th Aug 18, 7:18 PM
    Hiding behind forgotten log in details and paying off my Next account

    Thank you - I suspected that would be the better option... Experian made me doubt myself.
    • Gary_Dexter
    • By Gary_Dexter 8th Aug 18, 7:35 PM
    • 2,383 Posts
    • 1,329 Thanks
    Gary_Dexter
    • #4
    • 8th Aug 18, 7:35 PM
    • #4
    • 8th Aug 18, 7:35 PM
    Ignore Experian.

    Their !!!8220;advice!!!8221; is to improve a pointless score/rating that!!!8217;s entirely made up.

    Keep it open as it shows account stability and age of accounts.

    However next time you use it pay it off in full rather than just the minimum.
    • sparkey1
    • By sparkey1 8th Aug 18, 7:55 PM
    • 439 Posts
    • 193 Thanks
    sparkey1
    • #5
    • 8th Aug 18, 7:55 PM
    • #5
    • 8th Aug 18, 7:55 PM
    A key factor with credit is long term stability.

    Keep the account open.
    Dont reduce the limit.
    Use it and pay it off.

    Make sure you have the basics in order. ie that your on the electoral roll, and that the information on your credit report is accurate.



    Never pay for a credit report. Use a free service such as MSE Credit Club.


    Experians own advice at https://www.experian.co.uk/consumer/guides/what-affects-score.html "Try to keep old, well-managed accounts. Credit scoring looks at the average age of your bank accounts, so try not to chop and change too much."
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