I’m pleased to say we’ve paid off some of my debts over the last tw months whilst building up the various savings pots for a rainy day ~ or maybe a holiday. I haven’t touched a credit card to pay for anything which is a wonderful feeling.

Between me and my partner, we must have at least seven credit cards and some with quite high limits (e.g. c £7K). We regulary frequent comparison sites or the best deals and hence I have amassed quite a few of them over the years. I have sworn never to touch thee agian, but have decided not to get rid of them. We don’t feel the need to cut them up as we know we won’t use them but it seems such a hassle actually cancelling them all. How does it affect our credit rating for future reference if we simply hang on to them? Is is better to cancel or does it really make much difference bearing in mind we have managed to preserve our credit rating (mine is 752 or something like that with Equifax).

Please bear in mind all the cards have a 0 balance now and the only reason we may seek credit in future is for a good deal e.g. one year’s free interest on an emergency item like a fridge freezer etc (so our emergency fund can still gain interest).

Many thanks for any advice as to whether we should actually cancel the cards.