cancelling a credit card that i paid couple of holidays with that i hvnt been on yet

neelxxshb

okay so i have booked two holidays with barclaycard for next year.. after i booked them couple of months ago, i paid my barclaycard in full!!! now i want to cancel my credit card completely as i dont need it anymore.. but what got me thinking is that if something goes wrong with my holidays then would barclaycard back me up or i should wait till i come back from my holidays and then cancel my credit card? thanks

sfax

I don't know for sure but I would be very surprised if closing your card removes your Section 75 protection. The transaction has been made and the CC company are liable

chattychappy

Closing the card would not remove any s75 protection. But whether there is any s75 protection depends on how the booking was made.

jonesMUFCforever

.........I agree with the posts so far but what is the harm in keeping the card open with a nominal limit of £500 say - just in case you need to make a claim?
Refunds would be made to the card the transaction was debited from - if the card was closed it might delay your claim.

neelxxshb

thanks for the replies... i have the barclaycard with a limit of 4000 and i read somewhere on this website that the credit ratio and available credit affects your credit score.. so i was thinking about closing the barclaycard but i might just lower the credit limit to 1000 and keep the card till the holidays are dealt with thanks everyone

CLAPTON

neelxxshb wrote: »

thanks for the replies... i have the barclaycard with a limit of 4000 and i read somewhere on this website that the credit ratio and available credit affects your credit score.. so i was thinking about closing the barclaycard but i might just lower the credit limit to 1000 and keep the card till the holidays are dealt with thanks everyone

without knowing any detail of your finances but

4k is a pretty low credit limit
using a CC regularly and paying in full each month will improve / maintain your credit rating

*Scarlett

I would not worry too much about closing the Barclaycard or reducing the limit.

The fact that you have paid the balance will look good to future lenders.

You say that you don't need the card anymore - great. But you can keep it and just not use it - but you never know when your circumstances will change.

You only need to think about the available credit ratio if you want to apply for more lending or cards.

neelxxshb

thanks everyone for your replies... i will leave it as it is for now and maybe think about what to do with it after my holidays

dalesrider

chattychappy wrote: »

Closing the card would not remove any s75 protection. But whether there is any s75 protection depends on how the booking was made.

As well as what the reason for the claim was.

Closing the card would not slow any payment back. As it would simply go to another account you nominated.

The main reason I would keep the account open would be if the company wanted to refund something. As they can be funny about refunding to anywhere other than the origonal account.
But all a credit would do is reopen the account. Just the same as a debit would as well if the company needed to charge a surcharge.

chattychappy

neelxxshb wrote: »

if something goes wrong with my holidays

dalesrider wrote: »

As well as what the reason for the claim was.

Yes, even if the booking is within s75, the OP should be aware it's not a general insurance policy. Only provides protection against misrepresentation/breach of contract by the merchant. If the merchant is an agent, then s75 might not be worth much at all.