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.

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