Barclays aviator 28k miles in your hand from personal loan
Sep 14, 23, 12:20 am
#31
Join Date: Jul 2011
Posts: 2,211
Actually the opposite
a large balance paid off quickly, credit used wisely and responsibly will boost his credit score.
Since this appears to not be a credit card but some sort of personal loan, there's no way to "keep it open" and help juice his score even better by having a long history with Barclays. Longer length of time would be the only thing he could improve here vs what took place.
I was skeptical this would work (but barring a claw back on some sort of unforseen technicality so far overlooked), this seems brilliant and hardly "paltry."
a large balance paid off quickly, credit used wisely and responsibly will boost his credit score.
Since this appears to not be a credit card but some sort of personal loan, there's no way to "keep it open" and help juice his score even better by having a long history with Barclays. Longer length of time would be the only thing he could improve here vs what took place.
I was skeptical this would work (but barring a claw back on some sort of unforseen technicality so far overlooked), this seems brilliant and hardly "paltry."
Sep 14, 23, 12:04 pm
#32
FlyerTalk Evangelist
Join Date: Nov 2001
Location: Wanting First. Buying First.
Programs: Lifetime Executive Diamond Platinum VIP with Braniff, Eastern, Midway, National & Pan Am
Posts: 15,826
As you point out:
Since this appears to not be a credit card but some sort of personal loan, there's no way to "keep it open"
Another key component of credit scores is having lots and lots of credit, open for a very long time, and actually using very very little of it.
So the short term boost in credit outstanding (% of total lines in use) cannot be a good thing. And the short duration of the account being open will also be bad from a credit score perspective.
And, yes, 28,000 RDMs is fairly paltry in the grand scheme of things.
