Credit cards and credit rating...

tgon

I try to take up the best deals on cashback credit cards whenever I can and cancel the old card. Does this swapping about affect my credit rating? Ta

The_Boss

See thread by MSE Helen Saxon a few below this regarding your credit rating.

It's generally better to not continually switch if you're also closing the card. Also if you are closing and applying straight away, then credit files would not have updated so it looks like you still have the available credit. You need to be aware of how many credit searches you have showing too, as the more there are then chances of obtaining credit reduce.

In my opinion it's best to keep cards for a minimum of a year although having at least one for significantly longer may also help.