How to manage my credit from now

[pmj91]

Hello all,

Got myself in a bit of credit debt, had 3 credit cards on the limit along with a store card on the limit.

2 x cards @ £1000 limit.

1 x card @ £800 limit.

1 x card @ £400 limit.

 

Missed a few payments and only met minimum payments for a while which has caused by credit score to go into the poor range. I have now payed every card off in full, so i owe NOTHING (wooo!).

 

I have heard before once cards have been payed, not to close the account. Elsewhere, I have heard I should. But I'm not sure what the best thing to do is.

I want to keep one card really and keep pushing the provider for limit decreases over time, etc. Should I just use the best one and ignore the others....or close the ones I don't need?

 

Thanks.

[citizenB]

IMHO, I would close all bar one. There are going to be times when you do need a credit card for online shopping or if you want to make a large purchase and be covered by the 90 day insurance it gives.

 

Just make darn sure you manage it properly

 

Close the accounts in writing and ask them to acknowledge receipt - although sending the letter via recorded delivery and keeping the receipt will be adequate.