How Long To Shift Off Credit Rating??

PoorPrincess

Hi all,

Going to (hopefully) be cancelling a Barclaycard this week, and just wondered how long it will take for the account closure to show on my file to creditors??

Should i ask for a confirmation letter when i cancel??

Cant wait to cancel it

Princess

x

Moggles_2

A phone call to customer services should be all that's required, but definitely ask Barclaycard to confirm closure in writing. If the promised confirmation letter does not arrive within a couple of weeks, phone once again to ask why. Most lenders do not ask you to cut up and return the card.

I would check your credit reports in 4-5 weeks to make sure the a/c is marked "settled" The whole process (from the initial phone call ) can sometimes span a couple of months, so allow plenty of time

PoorPrincess

Moggles wrote: »

A phone call to customer services should be all that's required, but definitely ask Barclaycard to confirm closure in writing. If the promised confirmation letter does not arrive within a couple of weeks, phone once again to ask why. Most lenders do not ask you to cut up and return the card.

I would check your credit reports in 4-5 weeks to make sure the a/c is marked "settled" The whole process (from the initial phone call ) can sometimes span a couple of months, so allow plenty of time

Thanks Moggles, i canr wait to have that feeling of cutting up a card (sad i no), worked so hard to get the limit right down.

Princess

x

YorkshireBoy

Moggles wrote: »

I would check your credit reports in 4-5 weeks to make sure the a/c is marked "settled"

Don't be tempted to obtain another report if the settled status isn't shown on this report.

In my experience, both Experian and Equifax will continue to talk to you about your report for around 90 days. Just ring them and ask for the latest information on the Barclaycard 'status'.

Moggles_2

PoorPrincess wrote: »

I can't wait to have that feeling of cutting up a card (sad I know), worked so hard to get the limit right down

Not sad at all. Congratulations on turning things round.
:beer:

catinthehat1

Does anyone know if this sounds right? I've just checked my credit report with Equifax - one of my cards is showing a balance o/s of £1656, however this card company sold/passed my debt to another company and they are also on my report, and as I have been paying this my balance is shown and is correct at £314 . It doesn't say if the two are connected - what should I do?

I hope this all makes sense!!!!!

thriftymomma

catinthehat1 wrote: »

Does anyone know if this sounds right? I've just checked my credit report with Equifax - one of my cards is showing a balance o/s of £1656, however this card company sold/passed my debt to another company and they are also on my report, and as I have been paying this my balance is shown and is correct at £314 . It doesn't say if the two are connected - what should I do?

I hope this all makes sense!!!!!

I had this a couple of months back. Phone the company you originally had the card with and they should e able to update the records as you should only have one default registered for the debt.
They may liase with equifax so if you don't get any joy from the company staright off, log an enquiry with the CRA's. HTH.