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  • FIRST POST
    • darroch
    • By darroch 17th May 19, 9:04 AM
    • 35Posts
    • 6Thanks
    darroch
    Best time to apply for new credit card after closing another credit card
    • #1
    • 17th May 19, 9:04 AM
    Best time to apply for new credit card after closing another credit card 17th May 19 at 9:04 AM
    Hi,

    I have a barclaycard credit card which Iíve now paid off so going to close it s thereís 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, Iím 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
Page 1
    • zx81
    • By zx81 17th May 19, 9:07 AM
    • 22,052 Posts
    • 24,034 Thanks
    zx81
    • #2
    • 17th May 19, 9:07 AM
    • #2
    • 17th May 19, 9:07 AM
    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
    • By darroch 17th May 19, 9:16 AM
    • 35 Posts
    • 6 Thanks
    darroch
    • #3
    • 17th May 19, 9:16 AM
    • #3
    • 17th May 19, 9:16 AM
    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.
    Originally posted by zx81
    Thanks thatís 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?
    • zx81
    • By zx81 17th May 19, 9:23 AM
    • 22,052 Posts
    • 24,034 Thanks
    zx81
    • #4
    • 17th May 19, 9:23 AM
    • #4
    • 17th May 19, 9:23 AM
    Not particularly. I would apply now.
    • yams
    • By yams 17th May 19, 1:06 PM
    • 9 Posts
    • 2 Thanks
    yams
    • #5
    • 17th May 19, 1:06 PM
    • #5
    • 17th May 19, 1:06 PM
    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).
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