I currently hold 2 credit cards, I only owe money on just one of these.

Does the fact that I hold 2 credit cards adversely affect my credit rating?

No, as long as the payments are up to date and you are not over committed.

Thank you stateofplay

According to the credit score calculator at http://www.moneyforums.co.uk/credit_score_calculator.php you can hold upto 5 credit cards before it starts impacting on your credit rating.

quote:

Originally posted by Tina_O:
According to the credit score calculator at http://www.moneyforums.co.uk/credit_score_calculator.php you can hold upto 5 credit cards before it starts impacting on your credit rating.

Thank you Tina thats a very useful tool.

I have an average credit rating, with or without the credit card debt. Looks like I need to be in my home and place of work for longer in order for my "credit-worthiness" to improve.

I've just tried that thing.

I have a bad credit score!!

I have no credit cards, no debts excluding mortgage and have owned my home for 11 years.

How fecking ridiculous is that?

I think the problem you have is that you have NO credit history and hence a poor credit score.

You have to have a good credit history, be on the electoral roll , a stable and above average income etc to have a good credit score.

Just seems daft to me, even playing around with it to show I've been with current employer longer and I have a fictional credit card doesn't change it much.

And I'm not above average income (that's £24K per year isn't it?) yet I've paid a mortgage for 11 years without defaulting.

Just goes to show that they are obviously more willing to give credit to those who are already in debt than otherwise.