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    • BlackSwan83
    • By BlackSwan83 15th Jan 20, 4:24 PM
    • 1Posts
    • 0Thanks
    Credit Cards impacting Credit score!
    • #1
    • 15th Jan 20, 4:24 PM
    Credit Cards impacting Credit score! 15th Jan 20 at 4:24 PM
    Hi All,

    So at the moment i have 5 active credit cards and only really use 3 of them and the other two havent been used in years (they send new cards when old ones expire)

    My credit score is currently 915 but unsure if i should cancel any of these cards? Is 5 to many? will my credit score be negatively effected if i cancel cards?

    Any help would be appreciated

    Thanks in advance
Page 1
    • zx81
    • By zx81 15th Jan 20, 4:30 PM
    • 24,794 Posts
    • 27,681 Thanks
    • #2
    • 15th Jan 20, 4:30 PM
    • #2
    • 15th Jan 20, 4:30 PM
    Don't worry about the score. It will drop with any change but it's not a factor in lending.

    Cancel cards if you want to, but keep at least two or three to use regularly.
    • Ben8282
    • By Ben8282 15th Jan 20, 6:04 PM
    • 4,764 Posts
    • 2,629 Thanks
    • #3
    • 15th Jan 20, 6:04 PM
    • #3
    • 15th Jan 20, 6:04 PM
    5 cards is not too many.
    From the information provided it is not really possible to comment on what effect cancelling these cards will have on your credit files or your future ability to obtain credit.
    Your credit score is a meaningless number generated for marketing purposes by organisations which do not provide credit but will receive a financial incentive by suggesting financial products that you should apply for. The credit score will not be seen by lenders and will play no part in any decision regarding any future credit applications that you may make.
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