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Is this your only Barclays card? Is this your oldest account?
Closing the account will not have no negative effects with your AAoA as it will still factor for up to 10 years with the rest of your profile. The impact will only be evidenced once it drops off your CRs. How's your overall utilization?
Just close it. There won't be a hit on your credit unless the loss of the line bumps your utilization up since the card will remain on your credit report for up to 10 years.
ETA: Fin beat me to it lol
Thanks for the reply. UTI is at 1% overall and this is not my oldest card.
@FinStar wrote:Is this your only Barclays card? Is this your oldest account?
Closing the account will not have no negative effects with your AAoA as it will still factor for up to 10 years with the rest of your profile. The impact will only be evidenced once it drops off your CRs. How's your overall utilization?
I was thinking along the same lines but wanted to be sure. Thanks!!
@Anonymous wrote:Just close it. There won't be a hit on your credit unless the loss of the line bumps your utilization up since the card will remain on your credit report for up to 10 years.
ETA: Fin beat me to it lol
@SpecFile wrote:Thanks for the reply. UTI is at 1% overall and this is not my oldest card.
@FinStar wrote:Is this your only Barclays card? Is this your oldest account?
Closing the account will not have no negative effects with your AAoA as it will still factor for up to 10 years with the rest of your profile. The impact will only be evidenced once it drops off your CRs. How's your overall utilization?
If closing the card won't have any impacts to your overall utilization and you have no other Barclays cards to reallocate the CL, then it makes sense to close it.
That’s my only card with Barclays. Thank you for the advice. Will be closing.
@FinStar wrote:
@SpecFile wrote:Thanks for the reply. UTI is at 1% overall and this is not my oldest card.
@FinStar wrote:Is this your only Barclays card? Is this your oldest account?
Closing the account will not have no negative effects with your AAoA as it will still factor for up to 10 years with the rest of your profile. The impact will only be evidenced once it drops off your CRs. How's your overall utilization?
If closing the card won't have any impacts to your overall utilization and you have no other Barclays cards to reallocate the CL, then it makes sense to close it.