Re-applying for a card after cancelling it?

Noiz

Hi all, possibly a stupid question here...

I had a Capital One Platinum card which I cancelled about 4 to 6 months ago in a bid to reduce the number of cards I had (did have 5 at my peak, now down to 2 which I'm trying to pay off asap).

Since then, however, I realised that it gave me the best purchase and balance transfer rates out of any of the cards I had, including the ones I kept, so I'd like to get that one back and transfer the 2 balances I have left to that.

So my question: Do credit card companies mind people re-applying for cards after they've been cancelled? And am I likely to get the same sort of credit limit as they gave me in the first place? My credit history hasn't really changed much since I originally had it, apart from a few accounts have been settled.

Thanks in advance, any help much appreciated.

YorkshireBoy

Things may have moved on a little since you last had a Capital One credit card? As you'll see from the 3 below, there is no "one-size-fits-all" these days...

Capital One No Hassle Platinum
6.9% p.a. variable on purchases and balance transfers
Credit limit up to £25,000
Typical 6.9% APR variable

Capital One Platinum
0% on balance transfers until 1st January 2007
0% on purchases for 3 months
2% balance transfer handling fee
Typical 14.9% APR variable

Capital One Premier
0% on purchases for 6 months
6.9% p.a. variable on balances transferred in the first 6 months
Credit limit up to £10,000
Typical 17.9% APR variable

Source: https://www.capitalone.co.uk

I'm not sure about how soon you can re-apply after properly closing the old account, but the website says...

Please do not apply if you already have a Capital One credit card, you have applied for one in the last 6 months or if you are not a UK resident.

...so you might be OK.

As to your credit limit, they'll set this based on what they see when they credit search you.

file_wizzard

Best thing to do is to speak directly to cap one, you may find that your old account is still in its dormancy phase rather than fully closed (most Credit card accounts aren’t fully “closed” until 6-12 months after you first request it owing to the possibility of re-occurring payments being linked to the card )

Even if it is now fully closed but was operated in an acceptable manner then cap one would probably look upon this favourably with your new application.

Clariman

CapitalOne treat you as a new customer almost immediately after closing a card. You should be OK for applying for a new one, providing there is no major worsening of your credit rating in the meantime.

tim7273384

I had a Halifax card 9 months ago, closed it and switched to Mint for 9 months free credit. I have reopened the Halifax again finding a stand with brochures for a 12 month interest free offer. No problem opening it up again.
One note of caution, they do charge to transfer funds, but the maximum is £50, so still a very good deal if you bank the cash.

YorkshireBoy

tim7273384 wrote:

One note of caution, they do charge to transfer funds, but the maximum is £50, so still a very good deal if you bank the cash.

I thought the Halifax 12 month BT fee was now uncapped?