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Should I close some accounts before applying for a new one?

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Should I close some accounts before applying for a new one?

edited 30 November -1 at 12:00AM in Credit Cards
4 replies 833 views
Danny_H22Danny_H22 Forumite
3 posts
edited 30 November -1 at 12:00AM in Credit Cards
I currently have four credit cards and a store card, but I need to open a new card for a large purchase (£1700).

I have a Barclaycard that I've had for about 5 years and has been cleared for about 4 years and not used since. This has the smallest limit.

I have a Halifax card that is also clear but it does have a larger limit. I've had this for about 3/4 years.

I have a Sainsbury's card with a limit of about £4500 that I've had for about 18 months. I transferred the remaining balance of this card to a MBNA card last month to take advantage of a longer interest free period.

I also have a store card with New Day that is no longer used.

I need to apply for a new credit card to make a fairly large purchase, but should I close an account or two beforehand?


  • Nebulous2Nebulous2 Forumite
    3.2K posts
    Seventh Anniversary 1,000 Posts Name Dropper
    Look at some of the eligibility checkers and see what chances you are given for applying. I rarely close cards and have no problems getting credit, but other people promote closing them.

    You don't say the limit on your Barclaycard, but in my experience they are pretty good at offering money transfer and balance transfer offers. Are you getting regular (monthly) offers from them?
  • TheShapeTheShape Forumite
    1.7K posts
    1,000 Posts Fourth Anniversary Name Dropper Combo Breaker
    When I called to close a Barclaycard account in January, they were willing to make a 0% purchase offer to entice me to stay. If you call them to close, they may do the same. If the card does not have a high enough limit you could ask about a credit limit increase in the same call.
  • I think my limit is about £2,500 but I've honestly not used it in so long that I can't remember.

    Now I think about it, they do send me regular offers. I will call them tomorrow and talk to someone.
  • @theshape

    Mind if I ask how long the purchase period was?
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