Cancelling an unused card before applying

[andypanderinio]

I currently have two cards in my name – the Amex Platinum (charge card, daily spending goes here) and the free BA Amex (credit card, 18k limit, unused for months). I am in the process of buying a flat, with completion expected in the next 1-3 weeks. I want to get the new Barclaycard Avios Premium card for the welcome bonus and the upgrade voucher at 10k spend, and use it to buy furniture etc for my flat. My question is: do I cancel the BA Amex first before applying for the Barclaycard? I want as high a credit limit as possible on the new card because decking out a flat is going to be expensive!

PS my mortgage broker has told me it’s fine to apply for a credit card before completion, so long as I don’t borrow on it before completion. I’ll also be waiting to see what this special sign-up offer is for HfP readers is before applying for the Barclaycard

[Rob]

The missing data point is your BAPP credit limit as a % of your income. If this is modest (£18k on a £100k salary) then I doubt it makes any difference. If you have £18k on a £30k salary then I doubt anyone will be rushing to give you extra credit.

You could reduce the limit on your Amex BUT it will take a whilst to filter through to the credit agencies.

If you have no Visa/MC products at present then, unless your Amex credit line is huge, on the face of it I think Barclays should take you. You also need to think about what happens if you cancel your free BA card and Barclaycard refuse you.

[andypanderinio]

I am on a £40k salary, so sounds like it’s a fairly sizable chunk of my income as the credit limit. I don’t use the free BA card, so if I cancel it and don’t get the Barclaycard I’ll keep putting spend on the Platinum as I currently do. Amex points are more valuable than Avios at the same earning rate, as Amex points are more flexible.

Besides, I’m currently single so the 241 voucher from the BA Amex cards aren’t particularly useful to me at the moment. I’ve still got one from 2020 from my old premium BA card; the 241 voucher expires early 2023 and I still haven’t used it yet (I can still pay the flight taxes with my Platinum if I cancel the free BA card).

I’m currently leaning towards cancelling the free BA card today and applying for the Barclaycard when they drop the special HfP reader sign up bonus. If I don’t get the card then I’ll do my spending on my Plat card. I’ve already got money saved up to buy furniture, so I don’t need to do any borrowing / interest free credit or anything like that. I just want the large influx of Avios and the upgrade voucher!