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    • whizz371
    • By whizz371 9th Aug 18, 10:42 AM
    • 3Posts
    • 0Thanks
    whizz371
    changing cards
    • #1
    • 9th Aug 18, 10:42 AM
    changing cards 9th Aug 18 at 10:42 AM
    Hi All.

    First post so hello, and hope I am in the right place.

    I am considering changing a credit card. I have one card that has a 5k CL on it which I very rarely use. My thought is that I should cancel it and leave it for a month, before I apply for a new card to improve my credit score. I have no existing credit score issues. Any thoughts would be appreciated.
Page 1
    • Gary_Dexter
    • By Gary_Dexter 9th Aug 18, 11:08 AM
    • 2,769 Posts
    • 1,570 Thanks
    Gary_Dexter
    • #2
    • 9th Aug 18, 11:08 AM
    • #2
    • 9th Aug 18, 11:08 AM
    Don!!!8217;t try to improve a made up score.

    Keep the current card you have.

    Use it tor your everyday usage and pay off in full each month following receiving the statement.

    Feel free to apply for another card whilst keeping the one you have and split purchases between the both and pay them both off in full as per above
    • sparkey1
    • By sparkey1 9th Aug 18, 11:45 AM
    • 439 Posts
    • 193 Thanks
    sparkey1
    • #3
    • 9th Aug 18, 11:45 AM
    • #3
    • 9th Aug 18, 11:45 AM
    Take out the new card, dont close the old card, and dont lower the limit on the old card.

    If you do close it, it will lower the average age of your cards and suggest lower stability and a higher credit risk.
    • whizz371
    • By whizz371 9th Aug 18, 1:04 PM
    • 3 Posts
    • 0 Thanks
    whizz371
    • #4
    • 9th Aug 18, 1:04 PM
    • #4
    • 9th Aug 18, 1:04 PM
    Thanks for the replies . Gary I dont think you really understand my question. I am not trying to make up a credit score. I just have a card I dont want to use that I was thinking of cancelling b4 I applied for a new card. I felt that the credit check would take into account the total of credit I already had on all of my cards, so by cancelling a card I did not use with a 5k limit on it I would reduce the total credit available to me over the other cards that I do use, there by improving my chances of getting a decent credit on the card I want to apply for. It would appear from Sparkey that this would not be the case ?
    • Willing2Learn
    • By Willing2Learn 9th Aug 18, 1:11 PM
    • 1,836 Posts
    • 1,419 Thanks
    Willing2Learn
    • #5
    • 9th Aug 18, 1:11 PM
    • #5
    • 9th Aug 18, 1:11 PM
    ...I felt that the credit check would take into account the total of credit I already had on all of my cards, so by cancelling a card I did not use with a 5k limit on it I would reduce the total credit available to me over the other cards that I do use, there by improving my chances of getting a decent credit on the card I want to apply for. It would appear from Sparkey that this would not be the case ?
    Originally posted by whizz371
    You are correct - that would not be the case. It is good to have a card for a long time which has a good payment history (no late payments or arrears). Lenders like to see the stability and evidence of successful credit account management.

    Like the others have said: Spend freely on your credit card(s), doing your normal grocery shopping, clothes etc, all the stuff you already budget for. Then when the statement comes in, just pay it off in full. Lenders like that.

    Hope that helps
    Last edited by Willing2Learn; 09-08-2018 at 1:15 PM.
    I work within the voluntary sector, supporting vulnerable people to rebuild their lives.

    I love my job

    • Gary_Dexter
    • By Gary_Dexter 9th Aug 18, 1:19 PM
    • 2,769 Posts
    • 1,570 Thanks
    Gary_Dexter
    • #6
    • 9th Aug 18, 1:19 PM
    • #6
    • 9th Aug 18, 1:19 PM
    You said you were trying to improve your !!!8220;credit score!!!8221;.

    The score the CRA!!!8217;s issue are made up and are not to be looked at.

    Keep the card you have and apply for another one.
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