Credit history

PawelK

I am thinking of ditching my 123 credit card account although I have been with them for the past few years. Would changing to a new provider change (negatively) my credit history such as showing the gap in between the banks or just simply will start a new history from scratch? I am asking because I may potentially start house hunting later this year.

HappyMJ

PawelK wrote: »

I am thinking of ditching my 123 credit card account although I have been with them for the past few years. Would changing to a new provider change (negatively) my credit history such as showing the gap in between the banks or just simply will start a new history from scratch? I am asking because I may potentially start house hunting later this year.

Yes but the effect is short lived so I wouldn't worry about it.

If you don't earn enough cash back to cover the fee then ditch the card and move.

PawelK

HappyMJ wrote: »

Yes but the effect is short lived so I wouldn't worry about it.

If you don't earn enough cash back to cover the fee then ditch the card and move.

Thanks. That is the main reason I want to leave them although will stick with the current account as I maximised my savings there so even after the fees, it still pays out nice £40 a month. The only thing is I will need to be careful as one of my two direct debits there is from that credit card so will have to ensure it is changed right away to be linked to my new credit card.