Cancelling new credit card - Bad?

jimcameron

Hi Guys,

Quick one, last night i applied and was accepted for a balance transfer card, however since this morning i realised that i actually need a 'super balance transfer' card.

I was going to apply today for the MBNA SBT card and cancel the accepted Barclays BT one.

Would this be bad for my credit rating since i've yet to use the Barclays one? Will it look like i've been applying and being rejected by other cards?

Or should i just aplpy for MBNA and if accepted then cancel Barclays?

Cheers
Jim

BugsyBrowne

jimcameron wrote: »

Hi Guys,

Quick one, last night i applied and was accepted for a balance transfer card, however since this morning i realised that i actually need a 'super balance transfer' card.

I was going to apply today for the MBNA SBT card and cancel the accepted Barclays BT one.

Would this be bad for my credit rating since i've yet to use the Barclays one? Will it look like i've been applying and being rejected by other cards?

Or should i just aplpy for MBNA and if accepted then cancel Barclays?

Cheers
Jim

Shouldn't make no difference whatsoever, as loads of people get accepted for a new credit card and then decide to close it straight awy as they didn't get the right credit limit, if I was you apply for the MBNA now as it will only show up as a credit search for your card your getting rid of..

sharpy2010

star-fire wrote: »

Shouldn't make no difference whatsoever, as loads of people get accepted for a new credit card and then decide to close it straight awy as they didn't get the right credit limit, if I was you apply for the MBNA now as it will only show up as a credit search for your card your getting rid of..

Complete rubbish, as usual.

Opening an account and closing it straight away will leave a search on your credit file. The more searches, the more desperate it makes you look for credit. One search may/may not make any difference.