Time between closure and new application

JDC14

Is there an approximate time for waiting from closing a credit card account for it to reflect on credit report before applying for new one? 

I have an AMEX with £13k limit and £0 balance, but I want to close it so I can get a ~£10k limit to transfer another balance where the 0% period has ended.

Applied for a Barclaycard balance transfer card in January and they gave a £450 limit, so I believe I'm at the peak of my borrowing powers so need to close the AMEX first. 

eskbanker

JDC14 said:

I have an AMEX with £13k limit and £0 balance, but I want to close it so I can get a ~£10k limit to transfer another balance where the 0% period has ended.

Applied for a Barclaycard balance transfer card in January and they gave a £450 limit, so I believe I'm at the peak of my borrowing powers so need to close the AMEX first. 

Just to be clear, Barclaycard's decision to give you a £450 limit wasn't necessarily down to total available debt and affordability, i.e. if you close a card with a £13K limit, it doesn't mean that providers will be falling over themselves to offer you five-figure limits for new BT cards!

JDC14

eskbanker said:

JDC14 said:

I have an AMEX with £13k limit and £0 balance, but I want to close it so I can get a ~£10k limit to transfer another balance where the 0% period has ended.

Applied for a Barclaycard balance transfer card in January and they gave a £450 limit, so I believe I'm at the peak of my borrowing powers so need to close the AMEX first. 

Just to be clear, Barclaycard's decision to give you a £450 limit wasn't necessarily down to total available debt and affordability, i.e. if you close a card with a £13K limit, it doesn't mean that providers will be falling over themselves to offer you five-figure limits for new BT cards!

Thanks - I understand that - but I think closing the £13k card I don't really need to reduce my overall borrowing capacity from c. £32k would probably help when applying for another CC so my overall borrowing capacity isn't too high. 

maj1987

Santander,mbna and tsb are a few that do a soft check on you and give a likely acceptance and credit limit before you apply,maybe worth a try.

MattMattMattUK

JDC14 said:

eskbanker said:

JDC14 said:

I have an AMEX with £13k limit and £0 balance, but I want to close it so I can get a ~£10k limit to transfer another balance where the 0% period has ended.

Applied for a Barclaycard balance transfer card in January and they gave a £450 limit, so I believe I'm at the peak of my borrowing powers so need to close the AMEX first. 

Just to be clear, Barclaycard's decision to give you a £450 limit wasn't necessarily down to total available debt and affordability, i.e. if you close a card with a £13K limit, it doesn't mean that providers will be falling over themselves to offer you five-figure limits for new BT cards!

Thanks - I understand that - but I think closing the £13k card I don't really need to reduce my overall borrowing capacity from c. £32k would probably help when applying for another CC so my overall borrowing capacity isn't too high. 

Why not just reduce the limt?

Altior

The best deals are often reserved for 'new' customers, for obvious reasons. Some providers allow multiple accounts of course.

Re the OP, it's swings and roundabouts, closing the £13K card will increase the utilization percentage on the remaining accounts.

My view would be if you're not likely to get appealing offers on existing cards, kill them off anyway. Periodically do soft eligibility checks, apply when a good opportunity surfaces. 

JDC14

Altior said:

The best deals are often reserved for 'new' customers, for obvious reasons. Some providers allow multiple accounts of course.

Re the OP, it's swings and roundabouts, closing the £13K card will increase the utilization percentage on the remaining accounts.

My view would be if you're not likely to get appealing offers on existing cards, kill them off anyway. Periodically do soft eligibility checks, apply when a good opportunity surfaces. 

Utilisation after closing the AMEX is about 60%.

I need to turn around as quick as possible as my 0% deals have ended and I want to move onto a new one. So does anyone actually know how quickly closing the AMEX will reflect on my report? The lesser the amount I spend on interest in the interim the better.

Nasqueron

Santander was definitely a few months, I closed a card with them and was getting a rejection on soft searches for a little while, got a new one with better limit a while later.