Santander cc worth it?

vouch0r

Hi all,

I reieved a letter and saw that santander offer 3% on travel and various other cashback on thier cc, i spend 125 a month on travel so already make the 3 fee back easily.. Plus 0% on purchases and balanace transfer for 23 months.

I just remember after being accepted yesterday after probabtion i will likely be purchasing an an annual travelcard! I will balance transfer 700 to it anduseit as zero purchases to the limit but the fee puts me off if im not making any cashback.

If cancel after being accepted this wil this still be on my credit file?

Is it worthcanceling?

fromtheshires

It will still appear on your credit report as you have had access to the credit.
Do you get he fee waived for 12 months if you have a 123 current account still? If so, keep it and see what cashback you get and close it when its of no further use to you.

grumbler

vouch0r wrote: »

If cancel after being accepted this wil this still be on my credit file?

Even if it is in the file, it'll be shown as closed/settled, i.e. have no effect on anything.
The credit search will remain.

Is it worthcanceling?

Do your maths.
See the last posts (#1152-1155) in the Top Bank Accounts Discussion Area thread.

molerat

For me it is just about worth it. My first fee taken this month after the 1 year free and I average about £4.50 of cashback but I am stoozing £3100 on it which makes me just under £7 a month. March 17 it will be going though.

SLZ

vouch0r wrote: »

If cancel after being accepted this wil this still be on my credit file?

Is it worthcanceling?

Yes it'll still show and the search will show however it'll show as settled. Whether that's a bad thing or not depends on future lenders and what they think about a quick open and close account.

Depends, I'd say that it isn't worth it (see Grumbler's post), I worked out that the 1.25% AMEX is better for spending (with a Natwest/RBS Rewards account IMO) however you have a 0% offer on purchases so regardless of cashback it could be worth keeping it depending on what you're buying.