Impact of card cancelled

catnap53

Sorry if all this has been covered, but I have spent a couple of days searching.

I have been notified that one of my CCs has had its limit reduced from 7000 to 500 and will be cancelled in 30 days.

I had BT'd at 0% from it at the beginning of last year. Used it a few times after that to keep it ticking over as not spending on the new one.

Got offer of LOB transfer so phoned to pay off the outstanding couple of hundred and waited until it was shown clear.

Missed the offer date and have now received this letter.

Will this adversely affect my credit rating that they have cancelled it?

Will they have done a recorded search?

What are my chances of applying successfully for another card within the 30 days?

I have banked with this company for almost 30 years, had my mortgage with them, (now paid) a secured loan (bad advice) with 12 months to run, and have not had any late payments in almost 20 years, which makes it a little upsetting.

Thanks

stephane_2

Having a closed CC account will do damaged your credit file but to be honest if you want to keep the card, I would put a bit of pressure on them asking why they are doing it and put them under the impression that if they do you might want to move all your finances somewhere else & see what happened. If you have a good credit history you should be able to apply to CC, there are some good deals around

anna42hmr

are you sure it will affect the credit rating, as never affected mine, mbna wrote to me to advise that they were withdrawing the whiteroom/vip entertainment card so were closing that at a period of time,

i had the card for a few years (never missed payments etc and never earned them money which was why not offered another card) ,

it didnt really bother me as i was intending to close the account on my own choosing any way, but is just shown as settled like all my other cards i have cancelled over a perid of time, so no indication on the report that they closed it and not me, and have not had any problems getting cards since (post office, santander zero etc)

stephane_2

It was a typing mistake I meant "will not"