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Jeojeryceby : My credit was crap after some defaults when I was 18/19 and now im 28 i have got it back on track. My situation is that I have had a few small limit (a couple of hundred quid) credit cards which I have maintained well and have repaired my credit rating to the point that I have now got a 4500 quid card.
In a couple of months I will be in the fortunate position of being -800 on my bank overdraft, and having 3 cards with 0 balance, 250, 800 and 4500.

My question is, as far as credit score goes, am I better off having those 3 cards open and empty or closing them?

I'm never going to want to be 4500 in debt on a credit card so can take or leave them all at the moment. I dont want to lower the limit on that card as ive heard that can count against me as it suggests I dont trust myself.

Any advice?

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  #2 (permalink)
jepActitInjen : close
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  #3 (permalink)
Unfoniornanub : Well, assuming credit history works the same in the UK as it does here in the states.....

if you don't want to use those cards, and there is no yearly fee associated with them, just shred the cards. (sign up for online statements so no documentation will be in your home post). Then the creditor will, in time, just close the account & you gat another 10 years of history out of them.

That's IF you guys credit system works like ours.
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  #4 (permalink)
kimmurphyo : no, it is nothing
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  #5 (permalink)
ReonoSkeskGow : because i haven't spent any money on my capital one master card. I know there is a minimum payment but if i haven't spent any money, and my minimum payment is 0 would there be penalty???
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  #6 (permalink)
Loothemow : No penalty.
Talk to your parents on using this card - ok?
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  #7 (permalink)
Prurbadeora : No, there's not a minimum amount that you have to spend. However; if your purpose in having a credit card is to build up credit, then you should spend something each month.

If you don't use it at all, then the credit bureau won't have any idea that you're using credit and paying it off properly. That's what is needed to build credit. Use it at least once a month for something that you need to buy anyway (gas, food, etc.). Set that money aside immediately so that you have the full amount when the statement arrives.

Pay in full, but don't pay before the statement prints. Keep your utilization at, or below, 30% of your available credit to develop the best credit score. In other words, if you have a $500 limit on your card, you shouldn't normally use more than $150 of it.

If anyone ever tells you that you should carry a balance, don't listen to them. It doesn't help your credit score to carry a balance. All it does is require you to pay interest on your charges. If you pay in full each month, you'll never have to pay any interest.
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  #8 (permalink)
SessNeiny : Does anyone know a program i can use to swap out certain sections of picture with another? For example. I did multiple 4 panel collages and I want to swap out one panel with another one. I don't have a phone so a website or program, etc. would help.
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  #9 (permalink)
nanadokilalo : Yes, try photoshop.
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  #10 (permalink)
preadledema : Only the webpage design is coding. The actual information has to be researched and written. There are no programs that can do this.

__
Sigh... your dad really is a bit clueless. Computer programmers will always be in need.
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