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  • FIRST POST
    • trickydicky14
    • By trickydicky14 19th May 17, 12:22 PM
    • 122Posts
    • 14Thanks
    trickydicky14
    Pay off credit card in full ???
    • #1
    • 19th May 17, 12:22 PM
    Pay off credit card in full ??? 19th May 17 at 12:22 PM
    I currently have two credit cards, one is a Barclay card and not used for a long time the other is a Halifax card with 0% on purchases which is due to expire in 3 months’ time, credit limit 8k with 5k used.
    Normally I would wait a bit before looking for a new 0% deal but I think I have a good chance (famous last words) getting one with Sainsbury 31months! Plus 5000 nectar points if I do it now.
    My question is this, before applying ( and yes I have done a soft search with a 95% chance of getting said card) should I pay off the Halifax card early or just let it ride a bit longer, I have the money to pay it off that’s no problem but how I sort this could it make a difference to my chances of getting the new card?
    Thanks for any advice.
Page 1
    • Candyapple
    • By Candyapple 19th May 17, 2:33 PM
    • 2,059 Posts
    • 1,590 Thanks
    Candyapple
    • #2
    • 19th May 17, 2:33 PM
    • #2
    • 19th May 17, 2:33 PM
    If the extra nectar points are a time limited offer and you have 95% chance of acceptance just apply.

    Even if you cleared the Halifax balance now and closed the account, it can take up to 2-3 months to reflect this in your credit files so, there is nothing you can do that will make any difference.
    I'm a Board Guide on the Credit Cards, Loans, Credit Files & Ratings boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com
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