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

darroch · 17 May 2019 at 10:04AM

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

[Deleted User] · 17 May 2019 at 10:07AM

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.

darroch · 17 May 2019 at 10:16AM

Deleted_User 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?

[Deleted User] · 17 May 2019 at 10:23AM

Not particularly. I would apply now.

yams · 17 May 2019 at 2:06PM

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).

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

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