Cancel a barcley card affect credit rating?

Savergirl01

Hi, new to this forum. Just wondering If I cancel my barcley card and the re apply in 10 months time, would this affect my credit rating by cancelling it?

Thank you:money:

The_Boss

No it wouldn't. You should always wait a minimum of 6 months after cancelling a card to reapply, so 10 month seems a sensible period.

Paul_Herring

Savergirl01 wrote: »

Hi, new to this forum. Just wondering If I cancel my barcley card and the re apply in 10 months time, would this affect my credit rating by cancelling it?

Cancelling can affect your credit rating (depending on who's calculating it):
1) Positively by reducing the amount of credit you have available and
2) Negatively by increasing the proportion of available credit you've actually used (presuming you have other cards carrying a balance for example.)

How much emphasis is placed on each depends on the company you'd be asking credit off.

How much it will affect an application 10 months hence with Barclays is anyone's guess however. Depends what happens in the mean-time, both with you personally, and Barclay's general attitude to lending.