Originally Posted by
frankvb
Not sure about the UK rating system, but in the US it could indeed harm your credit rating. Closing a credit card is actually worse than just leaving it open and not use it....
Can you explain why you think so? It's against what I've read elsewhere which says that it's the total amount of available credit that is important.
Edit: I'm talking about the UK, are you?
I've opened and closed several credit cards over the last three years to take advantage of introductory offers and 0% interest rates, but I'm not planning on applying for a mortgage any time soon.
Will try my luck with this one.