Forum Home» Credit Cards

Best time to apply for new credit card after closing another credit card

New Post Advanced Search

Best time to apply for new credit card after closing another credit card

edited 30 November -1 at 1:00AM in Credit Cards
4 replies 502 views
darrochdarroch Forumite
39 posts
edited 30 November -1 at 1:00AM in Credit Cards
Hi,

I have a barclaycard credit card which I’ve now paid off so going to close it s there’s no reason to keep open. I also have a Halifax clarity credit card which always gets paid off every month.

As I use the Halifax for the majority of monthly U.K. transactions, I’m intending on applying for a Tandem credit card as it offers cash-back and also could replace the Halifax clarity which is used a couple of times throughout the year for foreign currency and transactions.

Am I best to wait a month or more after closing the barclaycard before applying for the tandem? Should I also cancel the Halifax one before applying?

Thanks

Replies

  • zx81zx81 Forumite
    28.3K posts
    Tenth Anniversary 10,000 Posts Photogenic Name Dropper
    ✭✭✭✭✭
    Apply for a new card before closing any of the old ones.

    Once you have four or five, you could consider closing one if you really need to.
  • darrochdarroch Forumite
    39 posts
    zx81 wrote: »
    Apply for a new card before closing any of the old ones.

    Once you have four or five, you could consider closing one if you really need to.

    Thanks that’s good to know. If I reduced my barclaycard credit utilisation from 55% to 0% should I wait a month for it to update with the credit reference agencies?
  • zx81zx81 Forumite
    28.3K posts
    Tenth Anniversary 10,000 Posts Photogenic Name Dropper
    ✭✭✭✭✭
    Not particularly. I would apply now.
  • yamsyams Forumite
    27 posts
    10 Posts
    I agree that there is no need to close it but I'll add that if you're applying for Tandem I definitely wouldn't close until the card arrives. I've been waiting almost 6 weeks to hear back (and if you look at the tandem thread - I can't link yet - it's not uncommon).
Sign In or Register to comment.

Quick links

Essential Money | Who & Where are you? | Work & Benefits | Household and travel | Shopping & Freebies | About MSE | The MoneySavers Arms | Covid-19 & Coronavirus Support