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Credit card got closed by Barclays
Posted on 3/28/19 at 10:10 pm
Posted on 3/28/19 at 10:10 pm
I got mail today from Barclays stating that one of my credit cards has been closed due to inactivity. How bad is this going to affect my credit score? I’ve had the credit card in my drawer for a while, and forgot about it. It was paid off long ago, nothing was on it at the time they close my account. Unless it affects my credit score, I’m not all that upset about it because I didn’t care for the rewards. It does suck though that it was my oldest credit card.
3
Posted on 3/28/19 at 10:20 pm to LSUneaux
Why the downvotes?
Posted on 3/28/19 at 10:26 pm to LSUneaux
it will be 1 less open account, it will lower your total available credit, and since it's your oldest card, could potentially have a big impact on your average age of accounts. if it was a high limit card, it could ding you quite a bit.
otherwise, i dont think it's a big deal. get another card that you can churn an easy bonus out of. free money for hitting your minimum spend, and it will get your total available credit back up
otherwise, i dont think it's a big deal. get another card that you can churn an easy bonus out of. free money for hitting your minimum spend, and it will get your total available credit back up
Posted on 3/28/19 at 10:41 pm to Carson123987
Thanks. I generally use three cards because of the rewards, but I need to be better with using my lesser cards every now and then.
Posted on 3/29/19 at 10:49 am to LSUneaux
Could be an impact. Maybe call them up and see if they will reverse the closure?
Posted on 3/29/19 at 11:53 am to LSUneaux
quote:
I need to be better with using my lesser cards every now and then.
You could set a single recurring charge & payment on those cards if possible. Cell phone, gym membership, Netflix, etc. That way you don't necessarily have to be mindful about charging to those specific cards every few months.
Just don't forget about them completely of course.
ETA: I did this with my own Barclays card when they got rid of the +10% bonus when redeeming points for travel. They now get a monthly gym membership.
This post was edited on 3/29/19 at 11:55 am
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