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  • FIRST POST
    • Danny_H22
    • By Danny_H22 12th Mar 17, 3:54 PM
    • 3Posts
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    Danny_H22
    Should I close some accounts before applying for a new one?
    • #1
    • 12th Mar 17, 3:54 PM
    Should I close some accounts before applying for a new one? 12th Mar 17 at 3:54 PM
    I currently have four credit cards and a store card, but I need to open a new card for a large purchase (£1700).

    I have a Barclaycard that I've had for about 5 years and has been cleared for about 4 years and not used since. This has the smallest limit.

    I have a Halifax card that is also clear but it does have a larger limit. I've had this for about 3/4 years.

    I have a Sainsbury's card with a limit of about £4500 that I've had for about 18 months. I transferred the remaining balance of this card to a MBNA card last month to take advantage of a longer interest free period.

    I also have a store card with New Day that is no longer used.

    I need to apply for a new credit card to make a fairly large purchase, but should I close an account or two beforehand?
Page 1
    • Nebulous2
    • By Nebulous2 12th Mar 17, 7:14 PM
    • 1,395 Posts
    • 849 Thanks
    Nebulous2
    • #2
    • 12th Mar 17, 7:14 PM
    • #2
    • 12th Mar 17, 7:14 PM
    Look at some of the eligibility checkers and see what chances you are given for applying. I rarely close cards and have no problems getting credit, but other people promote closing them.

    You don't say the limit on your Barclaycard, but in my experience they are pretty good at offering money transfer and balance transfer offers. Are you getting regular (monthly) offers from them?
    • TheShape
    • By TheShape 12th Mar 17, 7:25 PM
    • 752 Posts
    • 500 Thanks
    TheShape
    • #3
    • 12th Mar 17, 7:25 PM
    • #3
    • 12th Mar 17, 7:25 PM
    When I called to close a Barclaycard account in January, they were willing to make a 0% purchase offer to entice me to stay. If you call them to close, they may do the same. If the card does not have a high enough limit you could ask about a credit limit increase in the same call.
    • Danny_H22
    • By Danny_H22 12th Mar 17, 7:51 PM
    • 3 Posts
    • 0 Thanks
    Danny_H22
    • #4
    • 12th Mar 17, 7:51 PM
    • #4
    • 12th Mar 17, 7:51 PM
    I think my limit is about £2,500 but I've honestly not used it in so long that I can't remember.

    Now I think about it, they do send me regular offers. I will call them tomorrow and talk to someone.
    • Danny_H22
    • By Danny_H22 12th Mar 17, 7:52 PM
    • 3 Posts
    • 0 Thanks
    Danny_H22
    • #5
    • 12th Mar 17, 7:52 PM
    • #5
    • 12th Mar 17, 7:52 PM
    @theshape

    Mind if I ask how long the purchase period was?
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