Closing Barclaycard ?

[Anonymous]

1. I'm thinking about closing my Barclay Mastercard rewards, Don't use it much because of the 24.12 percent APR. Should I SOCK DRAWER it or close it. The credit limit is $3000. and 0 balance.  I just received a stash card with a little more limit and 16 percent APR. This will cover the lost CL of the Barclaycard...

  YOUR VOTE WILL DECIDE THE OUTCOME ...

[tcbofade]

You don't mention an annual fee.

If there is not an annual fee, SD it and leave it open.... if you're paying a fee for it, close it. 

[gdale6]

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@Anonymous wrote:

1. I'm thinking about closing my Barclay Mastercard rewards, Don't use it much because of the 24.12 percent APR. Should I SOCK DRAWER it or close it. The credit limit is $3000. and 0 balance.  I just received a stash card with a little more limit and 16 percent APR. This will cover the lost CL of the Barclaycard...

  YOUR VOTE WILL DECIDE THE OUTCOME ...

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APR should not matter if you PIF every month. I would first try to get an APR reduction by giving them a call. If you cant find it useful after that then I would just close it.

[CreditCuriosity]

Don't forget the stash card has an AF after the first year which probably is part of the reason of the lower APR along with rewards on the stash are very sub-par in most people opinions as it takes a ton of spend to make it a worhtwhile card IMO..  This is regarding your Barclay Card though keep it if you don't carry a balance and need the AAoA booost otherwise if you don't cancel it

[SouthJamaica]

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@Anonymous wrote:

1. I'm thinking about closing my Barclay Mastercard rewards, Don't use it much because of the 24.12 percent APR. Should I SOCK DRAWER it or close it. The credit limit is $3000. and 0 balance.  I just received a stash card with a little more limit and 16 percent APR. This will cover the lost CL of the Barclaycard...

  YOUR VOTE WILL DECIDE THE OUTCOME ...

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Don't close it. Use it, especially for groceries and utilities.

Who cares what the interest is? Don't pay interest. I find it to be one of my most useful cards.

(BTW if you call up and ask for an interest rate reduction they might give it to you; they did it for me)

[Anonymous]

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@gdale6 wrote:

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@Anonymous wrote:

1. I'm thinking about closing my Barclay Mastercard rewards, Don't use it much because of the 24.12 percent APR. Should I SOCK DRAWER it or close it. The credit limit is $3000. and 0 balance.  I just received a stash card with a little more limit and 16 percent APR. This will cover the lost CL of the Barclaycard...

  YOUR VOTE WILL DECIDE THE OUTCOME ...

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APR should not matter if you PIF every month. I would first try to get an APR reduction by giving them a call. If you cant find it useful after that then I would just close it.

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I would do this.   I have a Barclays reward card that I got when my scores were low and they had no problem dropping the APR with a SP over the phone.   They dropped it 4 points and said to call back in 6 months or so and maybe they can drop it more.   

I always PIF with it but never hurts to see the APR going down in case it were to grow later on.