How Does Closing My Barclays Card Affect My Credit Score?

This article discusses the ways that closing your Barclays credit card affects your overall credit score. It shares how your actual credit score will be affected as well as how lenders may be less likely to approve your loan or credit card application after you cancel your card. It suggests that consumers reach out to Barclays for assistance or to get answers to questions.

How Does Closing My Barclays Card Affect My Credit Score?

Barclays, headquartered in London, England, is a popular multinational bank. Many consumers have Barclays credit cards. Owning a credit card and using it responsibly can be an excellent way to positively affect your credit score. However, you may need to close your Barclays credit card. It's important to understand the different ways this will affect your credit score. If you have questions about how closing your Barclays card affects your credit score, reach out to Barclays.

Ways That Closing Your Barclays Card Affects Your Credit Score

There are a few ways that closing your Barclays credit card will affect your overall credit score. It's important to understand the effect closing your credit card account will have on your credit score before you finalize the process. Having a clear understanding of this will help you make an informed decision about closing your Barclays card.

1. When you close a credit card, you reduce the average age of all your credit card accounts. This is a special concern if the credit card you are closing is one that you've owned longer than your other credit cards, as this can be a reason for your credit history to become shortened.

2. When your entire amount of credit available to you falls, you then cause your credit utilization to rise. This will ultimately have the same effect on your credit score as if you've incurred additional debt.

3. Before approving your credit card application or loan, some lenders will require that you have a long credit history.

If you have any questions about the ways that closing your Barclays card affects your credit score, contact Barclays.

Why Did GetHuman Write "How Does Closing My Barclays Card Affect My Credit Score?"?

After thousands of Barclays customers came to GetHuman in search of an answer to this problem (and many others), we decided it was time to publish instructions. So we put together How Does Closing My Barclays Card Affect My Credit Score? to try to help. It takes time to get through these steps according to other users, including time spent working through each step and contacting Barclays if necessary. Best of luck and please let us know if you successfully resolve your issue with guidance from this page.

Why does GetHuman Write How-to Guides for Barclays Problems?

GetHuman has been working for over 10 years on sourcing information about big organizations like Barclays in order to help customers resolve customer service issues faster. We started with contact information and fastest ways to reach a human at big companies. Particularly ones with slow or complicated IVR or phone menu systems. Or companies that have self-serve help forums instead of a customer service department. From there, we realized that consumers still needed more detailed help solving the most common problems, so we expanded to this set of guides, which grows every day. And if you spot any issues with our How Does Closing My Barclays Card Affect My Credit Score? guide, please let us know by sending us feedback. We want to be as helpful as possible. If you appreciated this guide, please share it with your favorite people. Our free information and tools is powered by you, the customer. The more people that use it, the better it gets.


Asked 10 months ago
Updated 10 months ago
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