New card or balance transfer

PawelK

Good evening.

I am considering ditching santander credit card due to their monthly fees. One option is a balance transfer (either to my existing another credit card with halifax or a completely new one) or stop using my current one, pay off the balance next month and close it down and then start using another (again my halifax or brand new one, whichever has better conditions). I always pay my credit cards full balance each month by DD.

Which one is better to go for in a view that I might be looking for a flat to buy later this year (e.g. In six months time) with respect to my credit rating / mortgage application and my credit history?

grumbler

For your credit history it makes no difference how you pay your CC off - by a DD or by a BT.
There is absolutely no point in paying the fee for a BT.

PawelK

grumbler wrote: »

For your credit history it makes no difference how you pay your CC off - by a DD or by a BT.
There is absolutely no point in paying the fee for a BT.

Thanks. The difference I was thinking of was nit in a way how I settle my balance but whether there is a break in my credit history that will have an impact on my mortgage application (e.g. When closing one and starting new credit card) as oppose to balance transfer that would perhaps ensure no break in between the two credit card accounts.

Superscrooge

If you have a good credit history of regularly using your credit card and paying off the balance in full each month I don't think it will make any difference which option you choose.

Any mortgage application is likely to be accepted or refused based on affordability