ChatterBank0 min ago
Credit cards
3 Answers
Is it better to cancel credit cards that you no longer use because of it affecting credit rating?
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No, I would say it is better to keep them open - two reasons - firslty, they are always handy in case of emergency. Secondly, when you make an application for credit, a company will see the card as active but they will also see your balance (or average balance) - if this is zero, it is not really a problem.
It is also easier to get credit if a lender can see that you are a good risk - and they can only tell that if you have existing credit commitments that you are keeping to.
yes it is better to cancell credit cards it is better to do the credit card shuffle to find out more go to www.moneyexpert.com see you bonfire night
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