An occasional blog to accompany the business news on BBC Breakfast.

Wednesday, August 02, 2006

Tarts for Breakfast

Anon by text:
I'm a credit card tart and now I've got 6 credit cards with a zero balance. Will this affect my credit rating?

It might do. Lenders are under a great deal of pressure to lend responsibly. They will look at what credit is available to you and if they think more would make you over-committed they might say no.

But does the number of cards matter - as opposed to the amount you've borrowed?

Both can be important. There's no hard and fast rule. It depends entirely on the lending policy of the company you apply to.

Oh - if you're not using the cards, you should close the accounts.


Anonymous Anonymous said...

Gill said that if you believe a company has posted incorrect information on your credit file and you can't get the company to correct it (which happens regularly!) - that they'll put a note on your account saying you dispute the information. How much use is this? Will banks doing credit checks really take the slightest bit of notice of your comments? (D from London)

8:02 AM


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