Keep Barclaycard or close for new customer offer?

someone

Currently snoozing £5.3k on Nationwide and Tesco 0% offers.

My Barclaycard has a credit limit of £5k (unused) and they have sent me a BT offer. It started me thinking, am I best closing this account so I can later get a good intro offer (the current Intro offer is much better than that they send me) or keep it as a safe bet (they are always sending offers, plus I have never been given £5k as a starting credit limit).

Many thanks

cwal

It may be that you have to wait a while once you have closed your current card before you can apply again as a 'new' customer. I know some providers say it needs to be a year before they will count you as a new customer again.
If you already have a limit of 5k and they send you regular offers it may be better to hang on to what you've got.

vickywilde29

I contacted Barclaycard as an existing customer to close the account and was transferred to the retention team who offered me a much better balance transfer rate than offered to me online.

Apparently existing customer offers vary once a month too, get on the phone and let us all know how you get on.

hotmama

Just contacted barclaycard customer services, I have 3 CCs with them and one has a small limit of £330. I requested to close as I do not use that card and it's been redundant with no offers or spending for a long time. (I do not even know where card is, have ordered new one!) They transferred me to retentions who offered me 1% cashback on all purchases for 6 months up to the value of £50 paid monthly.:)

I agreed to take the cashback offer as it will be beneficial to do all my shopping on this card and take the £300 cashback over the 6 months.:T

I just applied for the 123 credit card this morning to get cashback too.

rb10

hotmama wrote: »

Just contacted barclaycard customer services, I have 3 CCs with them and one has a small limit of £330. I requested to close as I do not use that card and it's been redundant with no offers or spending for a long time. (I do not even know where card is, have ordered new one!) They transferred me to retentions who offered me 1% cashback on all purchases for 6 months up to the value of £50 paid monthly.:)

I agreed to take the cashback offer as it will be beneficial to do all my shopping on this card and take the £300 cashback over the 6 months.:T

I had the same offer from them a few weeks ago.

You do realise that to get the full £300 cashback you'd need to spend £30,000?!

pjread

spending 30k in 6 months on a card with a £330 limit would be quite impressive

planteria

i have not found Barclaycard to offer repeat BT deals. however, they can give you another card, and then let you move the limit of the first card to your second card, giving you a BT card with a more useful balance.

MBNA, Lloyds and NatWest(any RBS stable card) are all consistent repeaters for me.

Martinslovechild

Barclaycard have certainly offered me repeat BT deals. Not quite as good as the original 20 month deal, but not bad nonetheless so they definitely do it.

I pay more than the minimum each month, I don't know whether this is a mitigating factor.

lithium147

You need to be careful when closing cards, it could work against you as your ratio of used credit to available credit might be too high.

planteria

that's an interesting idea...i have understood that reducing available credit is, if anything, a positive.

nowadays, i am only using Barclaycard for spending, with Cashback generation. currently have 3 cards...but will have 1 by end September. closing 'old' Cashback and World cards and folding limit into 'new' Cashback card as soon as i can after i have been paid my cashback from each card